Legal Question in Business Law in Texas

non-compete and introductions

I recently made an introduction of a family friend and a former business acquaintance. Through this introduction my business acquaintance has closed several deals and wants to compensate me for making the intro, calling it a finder�s fee, and paying me on a 1099. The issue is we (the acquaintance and I) both work in similar career fields and the family friend works at one of my customers. Can I accept this finders fee without violating my non-compete? Would drafting a document defining exactly what the payment was for help and are there any limits to an amount of the finders fee? I'm worried both about myself (from the non-compete side) and his business (my company suing him for any revenue derived from the introduction.


Asked on 4/01/07, 10:33 pm

1 Answer from Attorneys
Peter Bradie Bradie, Bradie & Bradie

Re: non-compete and introductions

An attorney would have to look over the language of the non-compete to see if your actions came under that or not.

A document setting forth the terms of the agreement between you and your family friend would be a good idea, but only after the non-compete issue has been settled.

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Answered on 4/02/07, 5:30 pm


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