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Home Q&A Forum Noncompete agreement and change of control?

Employment

Noncompete Agreement

Connecticut

Asked on Aug 1, 2023

Noncompete agreement and change of control?

I recently accepted a new position with a company that has requested that I sign a noncompete agreement. I understand the agreement and the limitations it puts on me, but I am concerned about how the agreement would be affected if the company is sold or changes ownership in the future. I would like to understand my legal rights in the event of a change of control.

1 Attorney answer

Answer

Employment

Connecticut

Answered 348 days ago

Thomas L.

ContractsCounsel verified

Business Lawyer
Licensed in Connecticut
Free Consultation

If the future company buys the equity of your current employer, the Non-Compete continues in effect. If the future company buys the assets, the Non-Compete is terminated. I would request a sentence be added to the effect that "if there is a change of control of the Company (meaning more than 50% of the equity interest or 50% of the voting equity control) is sold or transferred, then this Non-Compete Agreement is terminated.

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