QUESTION
Should I sue a business for breaching a non-compete contract?
Asked on Apr 24th, 2014 on Breach of Contract - Illinois
More details to this question:
I purchased a business for a large sum of money 3 years ago. In our contract it stated that person I was buying the business from could not compete within a 50 mile radius for 5 years. This year they have started business as a competitor and have actively pursued taking back the clients that I have paid for. I have held up every part of my end of the contract. He has begun his business yet there are 2 years remaining on our non compete clause. Should I sue him to cease and desist, and to get any money owed to me? Another clause in the contract states that he owes me "any sums as to fully compensate for such failure" to complete the contract. Should I sue?
1 ANSWER
I guess my question would be why wouldn't you sue? Granted it will be expensive, but probably not as expensive as losing the goodwill you paid for, and, if the facts are as you represent, you have a good chance of collecting damages greater than what you spend in legal fees.
Answered on Apr 24th, 2014 at 2:46 PM