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President and Founder resigned then builds another company

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saui


Arresto Menor
Our president and Founder resigned from our company then after just a few weeks he puts up a new company with the very same services. Is this legal?

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resjudicata


Arresto Mayor
Hi saui: I don't see any conflict of interest with that unless the former president has a valid existing exclusivity agreement for a given period after cessation of his employment with your company.

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saui


Arresto Menor
Hi there resjudicata: thanks for the quick response. The problem is that the board of trustees has not endorsed his resignation on SEC yet. so technically, he is still the president. He only resigned by sending us an email. We never saw him again. We've never had a meeting about his resignation. Just after a few days we saw his ad on FB. His company has the very same services that we offer.

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resjudicata


Arresto Mayor
Assuming that he has not resigned, he is liable under the law for all damages resulting therefrom suffered by your company.

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attyLLL


moderator
on its face, i don't see anything unlawful unless there is a non-complete agreement. unless this is a scheme to defraud employees?


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saui


Arresto Menor
attyLLL wrote:on its face, i don't see anything unlawful unless there is a non-complete agreement. unless this is a scheme to defraud employees?

Thank you for the advise. At least now I know what to do..

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