I am currently employed by a major fortune 100 company which has a conflict of interest policy in which I Cannot be a director, board member, advisor or own a "substantial interest" in a company that competes with or acts as a vendor to my current company. I am the primary founder in a company which has received angel funds to began business as a vendor to either competitors and my company. I cannot afford to leave my current role at this time. my start his laying out its corporate structure as a C corp, How can I maintain a high equity position in this new start up without "quitting my current day job". I do not want my new company to run into tortious interference by knowing my conflict, nor do I (as the primary founder) want to pay high taxes on a granted equity position at a later date.
Answered on: 7/13/12, 9:21 am by Scott Polsky
If your current company realizes that you are breaching the conflicts of interest provision to their detriment, they will sue you. From your email above, it appears that you have breached it. You should speak with an attorney as soon as possible about your options and their risks. Feel free to contact me at 215-367-5110 to discuss further.
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