Food business
GULSHAN IYER
(Querist) 16 October 2014
This query is : Resolved
I started a small food outlet last year for a little investment and now run multiple of them comfortably. My business secrets are mainly my supply chain, my vendors and a few of them which anyone can learn if they work in my company. Now recently a friend of mine approached me to partner up with him to start a new one similar to me but with a name of his choice. He is ready to offer me upto 40 % in his startup. Expecting me to bring in my experience into the business that i have learnt the hard way in this one year. If not for me i am very sure he would figure out someway to enter into this .
1. What do i do ?
2.is there any legal way i can ensure he puts me into every business he does ?
what if he learns the business secrets and turns back against me ? IsTHERE any legal way i can protect myself.
I tried to give him a franchisee but he isnt agreeing to that too.
If at all he uses what he learns from me into any other place can i make him pay up for that ?
Kindly Guide me what options do i have to stay protected here !
Anirudh
(Expert) 16 October 2014
Politely decline his offer by saying that currently you are busy and not able to think of starting anything new as you would not be in a position to do justice to the new venture.
If he wants to partner with your present business, you say that it is a very small one and currently it does not have space for other partners.
Try to slowly and steadily avoid discussing with him your business details.
Rajendra K Goyal
(Expert) 17 October 2014
Not a legal query.
Any way agree with the advice of expert Anirudh.
ajay sethi
(Expert) 17 October 2014
agree with Mr Anirudh
ajay sethi
(Expert) 17 October 2014
agree with Mr Anirudh
T. Kalaiselvan, Advocate
(Expert) 19 October 2014
Expert Mr. Anirudh has very properly as well as practically addressed your query, it is upto you to follow it up.
