STARTING A NEW BUSINESS
By all accounts, this bad economy is a good time to start a new business. Maybe not leave your job to go solo – but file the paperwork with the state, form an LLC – “plan ahead.”
There may be a problem with being so organized thought.
Do you have a non-compete? Do you work for the type of place that might file suit to enforce that non compete?
Well – here is how your organization may look terrible when litigation begins:
Q: “Mr. Smith – now you planned on leaving Virginia Corp and competing years ago, didn’t you?”
A: “No – I loved my job. I didn’t plan on leaving at all – the recession was so bad they let me go.”
Q: “But Mr. Smith – you don’t expect me to believe that when you formed an LLC, got a Tax ID, posted a profile on Linked In in 2008-2009?”
A: “I was just planting seeds – just in case. I have to take care of my family.”
YIKES. This scenerio doesn’t make you look so great. If you need help in deciding what to do, we will help. We can review your non-compete and discuss what options you have.
It is important to be prepared, but, with employment contracts, sometimes being prepared can make you look bad!