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Before making plans to start your own company, it’s important to review any restrictions on your ability to build a competing company. Taking the following steps can save you a considerable amount of time and money down the road.
You probably signed many documents during the initial hiring process. You may not remember everything you signed, especially if you have been employed at the same place for several years. Obtaining and reviewing copies of your signed employment paperwork will help you determine what restrictions you agreed to, if any. The future success of your business and personal finances depends on the proper understanding and navigation of these documents.
If you are willing to work around the non-compete rather than challenge it, there are some options available to you. You may consider starting a business in your chosen field while avoiding activities that compete with your former employer.
If you insist on starting a competing business, you may be able to do so within the geographic restrictions outlined in the non-compete.
If you intend to break or challenge a non-compete agreement, you should always get advice from a qualified attorney. An attorney can evaluate whether any legal arguments apply to your situation and can help you navigate potential barriers to starting your new business.
If there is anything in your paperwork that you are unsure of or if you need guidance on how to safely start a business, Sussman Law Firm, PLLC is here to help! Contact us to schedule a consultation.