Could there be a clause in the partnership agreement, that someone cannot work anywhere else after 3 months start of business?
Atlanta, GA
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Posted 3 months ago in Contracts / Agreements
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Here is the scenario:
I am trying to buy a retail store with another guy. This guy, for some reason (i think tax) doesn't want his name on the partnership agreement. He wants his wife's name on it. He works a job right now, but promises to leave that job after 3 months to concentrate fully on business. How can I have a clause in the agreement to make sure that he does not continue to work anywhere else and puts all the efforts in growing the business? My thinking is that since his wife would be a partner in the company that we will form, can we force him to quit his job even though he is not "officially" related to the business? Just to clarify, his wife is not going to have anything to do with business except for her name. I and the guy would be operating/running it. Answers (3)
Glenn M. Lyon
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