If I have a business partner who owns a competing business, what type of legal agreement should we have to ensure that my partner is not competing with our business?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

If I have a business partner who owns a competing business, what type of legal agreement should we have to ensure that my partner is not competing with our business?

I am 50% partner in LLC, an accounting office. My partner owns another accounting office in different county but in the same city. I want to make sure that my partner is not taking existing customers or directing new customers to his office instead of our office?

Asked on January 15, 2015 under Business Law, Florida

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

It can be as simple as a short paragraph stating that neither partner will take customers from the other, or direct potential customers who approach office A to office B instead. Work out working that the two of you are both comfortable with, make sure you are each getting something in the agreement ("consideration"), then sign and date--you can then enforce it. If in doubt about drafting it, any business or contract attorney can help you.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption