Is Reggie really out?
12-02-2010, 11:53 PM
#21
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they cant, its called restraint of trade and most times it supercedes a non-compete. I've delt with them as employer/employee but I'm sure its different at the corporate level especially if its contingent on the sale of a business. I've signed non competes and laughed at them while i was doing it.
I'm sure there are some good ones out there but I have yet to ever see one worth the paper it was printed on.
Even the ones that people hold themselves to have an expiration date.
You can't keep someone from making a living. And even if you do you can't keep them from making a living forever...
Your own attorney will tell you they're enforceable but that's usually because he or she doesn't want to be liable any more to you than your opponent.
It's usually easier and cheaper for them to just say no vs. trying to help you find a way to say yes half the time.
12-03-2010, 03:56 AM
#22
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Hopefully they continue to build a quality boat with Reggie or without, I fear there is alot of hedge fund / trader mentality in the corporate world today, and may be a major reason why Reggie would be having issues with the transition, some of the corporate tricks involved at that level is enough to make anyone lose their cool, remember a fountain is not a fountain without Reggies family name, Im sure he is going to try like hell to protect it. Anyone who has sold a family business to a major corporation knows exactly what I am talking about. I dont have a Fountain, but I respect Reggie, he does alot for our sport, he was never afraid to show his face at events and shows during the bankruptcy, I saw him in miami and key west that year, which is when I became a fan. That takes balls, and in my humble opinion, hes done great things for our sport reguardless if you have a cat a vee, or a jetski.
12-03-2010, 07:02 AM
#23
Lakeside Restorations.com
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That would be interesting..
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12-03-2010, 08:20 AM
#25
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Its been made clear to me that Reggie is having a difficult time working for Johnny Walker and having a boss.
Also made clear is that the guards have been instructed to NOT permit him onto the property until he signs his non-comp agreement.
Also made clear is that the guards have been instructed to NOT permit him onto the property until he signs his non-comp agreement.
12-03-2010, 09:03 AM
#26
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In the corporate world I have signed and issued many non competes through buyouts. I also have had judged enforce them on 2 occassions. The trick is how broad of an area you ask for. I usually just don't want anyone competing in my market which I usually counted as a 100 mile radius of my hometown city. For a company like fountain that is world wide it is a little harder. If non competes weren't enforceable then many buyouts wouldn't make as much sense. Just my 2 cents from personal experiences though.
12-03-2010, 09:47 AM
#27
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In the corporate world I have signed and issued many non competes through buyouts. I also have had judged enforce them on 2 occassions. The trick is how broad of an area you ask for. I usually just don't want anyone competing in my market which I usually counted as a 100 mile radius of my hometown city. For a company like fountain that is world wide it is a little harder. If non competes weren't enforceable then many buyouts wouldn't make as much sense. Just my 2 cents from personal experiences though.
It's still a pretty grey area if someone wants to be really shady. Like you said, if you go for a very specific set of rules as opposed to a broad stroke then your chances of success of much greater for being able to enforce it if an entity is changing hands.
For employee level non-competes, good luck -
12-03-2010, 09:56 AM
#28
Racer
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I have been in court for 4 years now over mine. They may have a hard time keeping him from competing but they certainly can pursue him for damages once he does compete.
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12-03-2010, 10:01 AM
#30
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