hello members,
My partners and i are contemplating to buy sell to each other in 2 ways:
1. Sell to market.
2. She buy me out.
but partner claims that if She buys me out, i cannot compete in the market place whether directly or indirectly. Is there a law such as this?
No, there is no such "law." She may demand a non-compete agreement as part of the buy out package, but it is not required by law, and all non-compete agreement need to be narrowly drafted to comply with your local statutory and caselaw.