Legal Question in Business Law in Virginia
Our LLC signed a non-compete with another entity with a 2-year clause. We have since dis-banded that LLC and formed a new LLC for several reasons, but essentially in the same type of business. Is our non-compete contract null and void since the original LLC is no longer in business?
Asked on 4/08/13, 5:40 am
1 Answer from Attorneys
Daniel Press
Chung & Press, P.C.
It's going to depend on the terms of the non-compete, whether it binds you or just the entity, and whether the facts are such that the new entity would be considered legally or equitably the successor of the old entity. You need to carefully go over all of the facts and circumstances with a lawyer with experience in this area.
Answered on 4/08/13, 5:46 am
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