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Deleted user

posted a year ago

Cant start my business because of Contract

I worked at a company that's into selling particular kind of niche services to clients abroad. There's not much competition in that sector but the profit margins are high. Now the company requires each new employee to sign a NDA, non-solicitation agreement and also includes non-compete clauses in the contract. To be specific, the clauses say that if an employee leaves the company they cannot for the next 2 years work for another competitor of theirs nor can they start a venture in that very field. If the employee violates this clause and goes on to start a venture, they will have to pay a hefty fine and all the company's assets will be handed over to them. I want to start my own business now that I've learnt the ins and out of it and see a lot of potential in this sector. What can I do instead of waiting for another 2 years? What loopholes can I exploit here? How can I check if these terms are even enforceable in court or not? Thank you!

Country

Pakistan
United Kingdom

Fields:

Commercial and Business Law
Contract

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Deleted user

Lawyer

posted a year ago

The validity of Contract will be limited applicable upto the Jurisdiction of the country and once anyone crosses to any other country the jurisdiction will not be effective and hence with acquired knowledge anyone can do a local/domestic business in any other country

Deleted user

Lawyer

posted a year ago

assalam o alakum dear everything is possible in pakistan you can start your business i can assist you in that matter. please provide the agreement or contract for the sake of information.

Deleted user

Lawyer

posted a year ago

Hello dear, Yes you can do your job after the expiry of the contract or resignation as the case may as per local as well International law. Such agreement is against the local as well International laws. For the detailed legal opinion you may share your contract and other relevant material. Regards,

Deleted user

Lawyer

posted a year ago

All agreement or contracts that restrain from doing business or from getting employment are invalid according to the law of Pakistan and UK. These have no enforceability in the eye of law of Pakistan and UK. You can start and enjoy your business. For detailed legal opinion you should engaged me and send your relevant document after assessing these document in accordance with law I will give you accurate and result driven legal opinion.

Deleted user

Lawyer

posted a year ago

As per courts of Pakistan, entire matter is dependent upon as to whether the restrictive covenant or the restraint of trade clause is reasonable or not, in the given circumstances of the matter. Your circumstances will need to be considered in light of the decided cases in Pakistan.

Deleted user

Lawyer

posted a year ago

To provide you with accurate legal advice, it is essential for me to review the specific agreement you mentioned. An in-depth analysis of the agreement's terms, as well as the applicable laws in your jurisdiction, is necessary to determine the enforceability of the non-disclosure, non-solicitation, and non-compete clauses.