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Competition Law, New Company Formation
07-Jun-2023 (In Corporate Law)
Hi
I am currently working for a company that deals in FMCG products, I have plans of resigning and starting a similar business to sell the same products in the same market.
I have no Non- Compete agreement, and there is no IP that the company has with regards to the products as it is easily available. I want to understand the legal implication here and if it is legal for me to compete with my former employer.
2nd question can I start working on the business while being employed here- as in registering the company, sourcing the stock etc.
Regards
Hello!
You may start your own business after resigning. As, there's no bar on starting a similar business.
However, to be able to guide you better, We will need to go through your contract.
Feel free to get in touch.
Regards,
Smriti Khurana
Advocate
You may start your own business after resigning. As, there's no bar on starting a similar business.
However, to be able to guide you better, We will need to go through your contract.
Feel free to get in touch.
Regards,
Smriti Khurana
Advocate
Helpful?
Adv. Smriti Khurana
Delhi | 25+ Answers
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The terms of your appointment letter and HR policy relevant in this regard. As per Indian laws, usually in non-compete clause is not enforceable. However, there will be a clause which will be specifically stating that during the tenure of your employment with the company, you have to work exclusively for that company and so you may not be able to start a parallel business while being in the employment. I can provide further advice only after looking at the relevant documents and the status of your employment.
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Adv. Arpit Jain
Delhi | 25+ Answers
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