if i am propritor of some buisness which my dad runs ,and i dont work there and am working with some other company .it is legal and what will be the effects of this and waht should i do ?please help
2007-05-09 01:53:03 · 6 answers · asked by pns 1 in Business & Finance ➔ Careers & Employment
As long as they are not competitors and there are no industry secrets to be shared, you should be fine. As an owner of one company, you owe a fiduciary duty to not act in a manner that is detrimental to the company. As an employee of the other, you also owe a duty to that company to not take ideas, customers etc. Does everyone know about these relationships? This is no different than being a shareholder in a company if you have no management decisions in the company. If you do have day to day management decisions to make in the company you own, you have to make sure that does not impact your performance in the company in which you are employed.
Good luck.
2007-05-09 02:03:33 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It is perfectly legal. You can legally have as many jobs and businesses as you want. Some contracts of employment try to stop you doing this but as long as your business is not in competition with the company you work for it is not something anyone can stop you doing.
2007-05-09 02:02:59 · answer #2 · answered by Anonymous · 1⤊ 0⤋
yes, it's perfectly legal, I've been doing it for years. I own 2 company's and am a mortgage broker for another
2007-05-11 08:58:35 · answer #3 · answered by lv_consultant 7 · 0⤊ 0⤋
Yes...but you should check with the contract on your new company if it allows you to be employed or to be a proprietor of another business
2007-05-09 02:01:00 · answer #4 · answered by Dondon F 3 · 1⤊ 0⤋
Yes, it's legal.
2007-05-09 02:12:37 · answer #5 · answered by skip742 6 · 0⤊ 0⤋
its ok
2007-05-09 02:01:02 · answer #6 · answered by smars442002 5 · 0⤊ 0⤋