Legal Question in Business Law in Ohio
Is the non-compete still valid ?
I sold my business in Ohio last year. I was required to sign a non-compete. Since the sale of my business, the company has dissolved the original company name (the name that I had the non-compete with) and they created a new limited liability name and DBA name. Is the non-compete still valid?
2 Answers from Attorneys
Re: Is the non-compete still valid ?
You need to review your contract with your attorney before this question can be answered. Did your contract bind you to successors and assigns? Was it otherwise transferable?
Re: Is the non-compete still valid ?
If the Company dissolved and they started a new separate company, the answer depends on the contract wording. You would have to have this reviewed by your attorney. From the wording of your question, it seems the company may not have dissolved, it just changed its name. If the company just changed its name and dba, you are most likely just as bound under the new name as you were before the name change. A contract would not be invalidated just because the name used at the time of signing has changed.
Related Questions & Answers
-
Freeze assets what takes place when assets are froze? Asked 2/21/08, 12:18 pm in United States Ohio Business Law
-
Home based wholesale biz Where do I find out if I'm able to run a wholesale business... Asked 2/18/08, 3:53 pm in United States Ohio Business Law
-
Start a partnership Myself and 3 family members are trying to start a partnership.... Asked 2/17/08, 10:54 pm in United States Ohio Business Law
-
Small business verbal contract My father owns a pizzaria, and he rents the propery... Asked 2/16/08, 8:42 pm in United States Ohio Business Law
-
Corporate operating agreement Is the corporate operating agreement for an ''S'' or... Asked 2/14/08, 4:08 pm in United States Ohio Business Law