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I LIVE IN THE STATE OF GEORGIA AND I SOLD TWO COMPANIES ONE…

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I LIVE IN THE STATE...
I LIVE IN THE STATE OF GEORGIA AND I SOLD TWO COMPANIES ONE 5 YRS AGO AND ONE THREE YEARS AGO AND I THOUGHT I WOULDN'T HAVE TO WORK ANYU MORE BECAUSE OF THE ECOMOMIC DOWN TURN I NEED TO GO BACK TOO WORK AND I HAVE A NON COMPETE CLAUSE ON BOTH SALES FOR TEN YEARS EACH AND FINANCED THE SALES AND I WENT THROUGH A AUTORNEY AND HAVE A PROCERY NOTE ON BOTH BUSSINESS AND I NEED TO MAKE SURE IF IT IS POSSOBLE TO CHANGE THE NON COMPETE CLAUSE TO BE MODIFIED IN JULY OF 2010 I STILL WILL GET MY PAYMENTS I WAS TOLD THE STATE OF GA IS A WRIGHT TO WOTK STATE THE NORMAL NON COMPETE CLAUSE IS 2.5 YEARS AND IT IS EASY TO HAVE IT CHANGED PLEASE HELP ME THANKS DONALD
Submitted: 8 years ago.Category: Business Law
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6/25/2010
Business Lawyer: lwpat, Attorney replied 8 years ago
lwpat
lwpat, Attorney
Category: Business Law
Satisfied Customers: 25,387
Experience: Attorney with over 35 years of business experience.
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Hi Donald

The problem here is that one or the other may sue you and then quit making the payments. While 2.5 years is the norm, 5 is not unusual and here you were the owner of the business, not an employee. Are you going to be in direct competition in some way or simply working for someone else.

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Customer reply replied 8 years ago
I WILL BE IN THE SAME BUSSINESS I SOLD AND I OWNED THE BUSSINEES I SOLD AND IF I TRY TO PERSUE REMOVAL OF THE NON COMPETE CLAUSE I COULD SCREW MY SELF OR ARE THERE ANY OPTHER OPCTIONS PLEASE LET ME KNOW DONALD
Business Lawyer: lwpat, Attorney replied 8 years ago
You can ceertainly ask the owners of the businesses now to release you but I don't think that you will have much luck since you will be in direct competiton. Since you were the owner and it was an arms length transaction the court will probably uphold the noncompete.
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Business Lawyer: lwpat, Attorney replied 8 years ago
You can ceertainly ask the owners of the businesses now to release you but I don't think that you will have much luck since you will be in direct competiton. Since you were the owner and it was an arms length transaction the court will probably uphold the noncompete.
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Customer reply replied 8 years ago

I KNOW YOU ARE IN NC BUT THE MON COMPETE CLAUSES ARE THEY THE SAME STATE TO STATE AND WOULD GA BEING A WRIGH TO WORK STTE THAT WOULDN'T MAKE ANY CHANGES EASIER

 

Business Lawyer: lwpat, Attorney replied 8 years ago
Noncompete clauses are treated differently for owners or employees. Here you are an owner that sold your companies in an arms length transaction. That is a different set of circumstances and right to work has nothing to do with it. You can always take the chance but you may be buying a lawsuit that you could easily lose.

An accept for my time is always appreciated.
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