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Does it make any difference if I'm selling the business.

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I wasn't just an employee...
Does it make any difference if I'm selling the business. I wasn't just an employee. I'm looking to start another similar business that provides the same services. In this case, painting.
Submitted: 2 years ago.Category: Business Law
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1/18/2016
Business Lawyer: Richard, Attorney replied 2 years ago
Richard
Richard, Attorney
Category: Business Law
Satisfied Customers: 57,223
Experience: 32 years of experience practicing law and a businessman.
Verified

The buyer of your business steps into your shoes with regard to the existing business. With regard to you starting a competing business, as long as you wait the 3 years and 20 miles of this existing business, you should be fine.

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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