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Bethm1026
07-25-2010, 05:22 PM
Hey Ya'll!
Here is the gist of what I need help with....
I had a buddy who owned a motorcycle shop, an LLC.
I "bought" the shop and added it under my umbrella of my INC.
Ex... McMahan Management Inc. DBA Mafia Motorsports
Now the former owner (who I ended up firing after 60 days) wants his name back under the LLC. to open another shop to compete with mine.
I have since added another business under my INC. umbrella as well.
Is there anything I can do at this point?

cbscreative
07-25-2010, 10:09 PM
Yikes. That is definitely outside my expertise to answer, but welcome to our forum. We do have members who can offer some insight on your question. I suggest posting under a more appropriate category to get better response.

Steve B
07-26-2010, 08:24 AM
What were the terms of the sale? What do you have in writing? Did you have a non-compete clause?

Business Attorney
07-26-2010, 09:19 AM
What were the terms of the sale? What do you have in writing? Did you have a non-compete clause?

Ditto what Steve asked. Unless you have a written non-compete as part of your agreement, you are probably going to have little chance of preventing him from opening another shop in competition with you. On the other hand, depending on what you "bought" (your quotes, not mine), the name (including any trademark rights and goodwill) may belong to you. If the latter is true, then he would need to come up with a new name for his competing business that did not infringe upon your trademark rights.

cbscreative
07-26-2010, 12:14 PM
I've gone ahead and moved this thread to an appropriate area. Bethm, feel free to start another intro thread if you wish, this one will be dedicated to your question.