Hello.
I have a question about my business situation.
In 2008, I started trading as a sole trader doing graphic design and commercial printing services.
In 2011, I partnered with someone and we started a company that supplies done-for-you newsletters to customers. We both signed a non-compete clause. Specifically it said:
"No participating member will start of participate in a direct competitor or XYZ whilst this agreement is in place and for 2 years after it ends."
For 2 years, we ran this in conjunction with our own separate businesses.
In late 2013, I sold my independent graphic design and printing business to the newsletter company for a minimal fee to reduce overheads and management costs. There was no adjusted terms regarding the non-compete at this time.
Things have changed recently and I will be exiting the newsletter business shortly and I wanted to find out whether if I started a new graphic design and printing business, would that be in breach of the non-compete under commercial law, seeing as at the time of signing the non-compete, what I was agreeing to was NOT to participate in a competing newsletter business.
Appreciate your advice. Thank You.
I have a question about my business situation.
In 2008, I started trading as a sole trader doing graphic design and commercial printing services.
In 2011, I partnered with someone and we started a company that supplies done-for-you newsletters to customers. We both signed a non-compete clause. Specifically it said:
"No participating member will start of participate in a direct competitor or XYZ whilst this agreement is in place and for 2 years after it ends."
For 2 years, we ran this in conjunction with our own separate businesses.
In late 2013, I sold my independent graphic design and printing business to the newsletter company for a minimal fee to reduce overheads and management costs. There was no adjusted terms regarding the non-compete at this time.
Things have changed recently and I will be exiting the newsletter business shortly and I wanted to find out whether if I started a new graphic design and printing business, would that be in breach of the non-compete under commercial law, seeing as at the time of signing the non-compete, what I was agreeing to was NOT to participate in a competing newsletter business.
Appreciate your advice. Thank You.