Do I have to sign non compete to leave?

This is a discussion on Do I have to sign non compete to leave? within the Business Contracts & Partnerships forum, part of the BUSINESS & FINANCE LAW category; I currently do not have a non-compete clause. I am having my shares bought out. Partner is telling me I ...

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Old Feb 22nd, 2008, 05:25 PM   #1
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Default Do I have to sign non compete to leave?

I currently do not have a non-compete clause. I am having my shares bought out. Partner is telling me I HAVE to sign non-compete to leave. He hasn’t even prepared it yet.

I will be starting my own business in the same field. I have certain certifications that will go with me. These certifications provide me leads by being listed on websites as an authorized partner right along his. These sites are a major source of leads.

So he states that if someone that had dealt with him before, regardless if they did business or not (Clients and Prospects), I will not be allowed to deal with them between 3-5 years (Which has yet to be determined).

I have no plans on going after his client's or employees. I have been very loyal to him in past and will continue to be.

My dispute is what if I get a call from someone who he hasn't dealt with in a very long time or a company with a different contact person or a different group from a large F500 Firm who might have hundreds of departments/agents spread across the region (Think Wachovia, Merril Lynch, Country Wide, etc) or even someone that just called him before and inquired about their prices. I can understand current active clients, even people who have contacted him in the last 12-18 months.

If I am simply asking to buy me out do I really have to sign one? Is that enforceable?
What if I don’t want to sign, can I still get my money?
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