Legal Question in Business Law in Virginia
company will not take back sales area
i own the rights to distribute a companys products,have been doing this 10 years and want to retire from it,but company refuses to buy back rights,saying i must sell it on my own,the business is very modest and will be very hard to sell,and if i abandon the business they said they will charge me to have someone do the work,do i have any legal outs? i am a inc. small business
1 Answer from Attorneys
Re: company will not take back sales area
You have to start by reviewing your written contract with the company to determine the term (length) of the contract and the rights to termination. Whether you entered into the contract in your corporate name or individually (or perhaps guaranteed the contract) is also relevant to determine your options.
More information would be needed to fully answer your question. It's worth a consultation with a knowledgeable attorney.
Good luck,
Bernie Dietz
www.DietzLawFirm.com
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