If company goes out of business is non compete still valid

I have received word that my current employer may be going out of business. and I have signed a non-compete agreement. If he does go out of business I would like to continue to offer some of his services by starting my own business.

Please advise if the non compete agreement is still valid if he goes out of business.

1 answer  |  asked Jan 15, 2008 11:23 AM [EST]  |  applies to Florida

Unlock Non-Compete Agreements: Keys to Escape

Answers (1)

David Goldman
Non-Compete & Business Termination

Your questions is a common question. there is no clear answer, but each case or persons circumstances need to be evaluated. Several cases have held that non-compete agreements are company assets and are maintained by the successor to a company if there is an assignment clause.

To answer your specific question you would need to know how the company is going out of business, what your relationship to the company was and then review your particular agreement in light of the above information.

posted by David Goldman  |  Jan 15, 2008 12:07 PM [EST]

Answer This Question

Sign In to Answer this Question

Related Questions with Answers

Have an Employment Law question?

Virginia Employment Lawyers

Sheri Abrams Sheri Abrams
Sheri R. Abrams PLLC
Oakton, VA
Edward Lowry Edward Lowry
Charlottesville, VA
Matthew Sutter Matthew Sutter
Sutter & Terpak, PLLC
Annandale, VA
Gerald Lutkenhaus Gerald Lutkenhaus
Virginia Workers Compensation & Disability Lawyer
Richmond, VA
Matthew Kaplan Matthew Kaplan
The Kaplan Law Firm

more Virginia Employment Lawyers