Are you thinking of purchasing an existing business in the Newcastle area?
There are very important things that you need to know before you start on your new enterprise.
You don’t want to purchase a business only for the former owner to start anew across the street!
In order to secure what you pay for you must insist on a restraint of trade. The most common way for this to be done is to prohibit the former owner from operating a similar business within a specific geographic area for a specific period of time.
These restraints of trade are a tricky business in themselves as there are public policy considerations about their enforcement. They cannot be drawn too wide or significantly lessen competition so as to compromise the foundations of free enterprise.
Restraints of trade are also not limited to the person, or company, that owned the previous business. We are able to extend restraints of trade to key persons including directors and key employees.
Rather than worry about all the possibilities, why not come to see Joshua Hay of Bale Boshev Lawyers?
We can secure the start to your new future and allow you to take the plunge into a new business worry free.
As always if you would like to schedule a no-cost consultation with our Newcastle lawyers please contact us on our toll free number 1800 627 488 or email us at email@example.com