Lot more information needed: See FTC, SBA, etc. Note: If you develop a concept & open a business or buy a Franchise, make sure you obtain a no compete... i.e., from Franchisor; or from employee. Examples: 1. Franchisor sells other franchises in same area (same mall, same block or urbanization. Make sure you're sole franchisee in stated area... 2. If you employ a newbie & train him, make sure he can't take that knowledge too soon or set-up shop nearby; 3. Ditto hiring or co-partnering w/ knowledgeable or unknowledgeable person (just because bring in knowledge or money, etc.,) to not sell his/her share within certain period or compete... They learn & help grow the business, or trained newbie... without restrictions... No-Compete within certain area; time frame... 3. I've handled cases employees opening same business nearby their former employer. Example: Well Known Tax Prep Franchisor... Tax Prep Firm targets ex-pats in foreign country... Franchisor sells new franchises to his former employees in same area...
