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I am the President of a company and want to start my own

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company in the same industry...
I am the President of a company and want to start my own company in the same industry. Can I do this without any legal ramifications?
Submitted: 1 year ago.Category: Legal
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Answered in 7 minutes by:
12/11/2015
Lawyer: Marsha411JD, Attorney replied 1 year ago
Marsha411JD
Marsha411JD, Attorney
Category: Legal
Satisfied Customers: 20,417
Experience: Licensed Atty, 29 yrs exp in the practice of law.
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Hello,

Thank you for the information and your question. The answer to your question really depends on the facts. Specifically whether or not you have ever signed a non-compete/non-solicitation agreement with the Company and also the type and size of your industry and what, if any, information you would use in starting your new business that you gained from employment as the Company President for your current employer.

It is doubtful that your current employer will just let this go without a legal fight since you are going to be, I assume, a competitor. So, even if you have not signed one of the agreements I mentioned above, they may try to claim that you will be using proprietary information of the Company in your new endeavor and that would lead to litigation over stolen proprietary information.

For example, using the Company's customer list, recipes or other intellectual property, as well as processes, could lead to the litigation I mentioned to name a few. I would highly recommend that you sit down with a business attorney when putting together your plan and have them review the resources you will be using in your new business to ensure that there is no issue of violation of the Company's proprietary information.

Please feel free to ask for clarification if needed. If none is needed, then if you could take a moment to leave a positive rating in the box above, I will receive credit for assisting you today. Thank you

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Lawyer: Marsha411JD, Attorney replied 1 year ago

Hello again,

I wanted to touch base with you and make sure that you did not have any follow up questions for me from the answer I provided to you on the 11th. For some reason, the Experts are not always getting replies or ratings (at the top of the question/answer page you are viewing or in the pop up box for this question), which is how we get credit (paid by the Site) for our work, that the customer thinks have gone through. In your case I received neither. If you are having technical difficulties with reading, replying or rating, please let me know so that I can inform the Site administrator. Please note that Site use works best while using a computer and using either Google Chrome or Firefox.

In any event, it was a pleasure assisting you and I would be glad to attempt to assist you further on this issue, or a new legal issue, if needed. You can bookmark my page at: http://www.justanswer.com/law/expert-marsha411jd/

Thank you.

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