Apni Law Staff asked 6 months ago
My partners and I started a firm three years ago. Recently, I discovered one of them has set up a similar firm in the same industry. He wants us to hire someone to take over his responsibilities so he can focus on his new venture. The issue is, hiring a replacement would cost more than what he currently earns. Additionally, I’m unsure how to share our business details with someone who’s now a competitor. What options do I have?
Best Answer
Apni Law Staff answered 6 months ago
Under Indian law, your partner is legally allowed to set up a competing firm. However, you can explore options like discussing a buy-out agreement or demanding a non-compete clause in his partnership agreement. You also have the right to protect your confidential business information by seeking legal advice on limiting access to sensitive data and ensuring proper confidentiality agreements.
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