I have a non-compete employment agreement with my current company for which I have worked for the past 4 years. The agreement only covers the city and surrounding area, of the office that I work in. Recently the company has decided to sell the office to another individual that will be changing the company name and become the sole owner of the business. My question is: Is my employment agreement / non-compete transferable to the new company?
2007-12-14 01:54:47 · 4 answers · asked by jepook 2 in Politics & Government ➔ Law & Ethics
you need to speak with your HR department about your non-compete clause in your employment agreement. I don't think it will transfer. Every time, this has happened to me more than once, we had to fill out new paperwork once the company was bought out.
2007-12-14 02:15:51 · answer #1 · answered by Slick 5 · 0⤊ 0⤋
You need to speak with your current company about that. They will have to speak with the new company, and if it was not stated in the contract, and the new company will not accept the transfer, your current company is required to pay you a lump sum of what it is your would have earned until the end of the contract. That is the good thing about having contracts.
2007-12-14 02:03:43 · answer #2 · answered by Angelic Valentine 6 · 0⤊ 0⤋
You could ask the current owner. When sold, the new owner may change the way things are done and require new paperwork to be signed by all the employees.
2007-12-14 02:34:47 · answer #3 · answered by sensible_man 7 · 0⤊ 0⤋
No.
2007-12-14 02:14:37 · answer #4 · answered by regerugged 7 · 0⤊ 0⤋