Legal Question in Business Law in Missouri

I was made a minor shareholder in a company and in return I signed a non compete and non divulgence agreement for those shares. I left the company 8 years later as a result of not being happy with a lot of actions by the corporate leadership which included tax fraud by moving equipment interestate to avoid sales tax and personal property taxes. They have sent me a letter saying I am bound by my agreement - however they have since filed chapter 11 bankruptcy. Can I now open my own business in the same area and inform the states about the tax issues without getting sued?

Asked on 1/24/10, 4:31 am

1 Answer from Attorneys

Anthony Smith LawSmith

In Missouri, noncomplete agreements have to be reasanable as ti time and distance.

Your nondivulgence agreement may be illegal on its face. Anti-whistle blower agreemtns are rarely, if ever enforced by courts.

Whether you can open abusiness in the same area as yrou former comp[any, is to be determind upon the facts of your situation. Consult with a business or litigation attorney in your area, who can get all the pertinent facts from you. There may be nothing in any of your agreements that could prevent you from reporting tax evasion.

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Answered on 1/30/10, 7:43 am

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