Business (Asset Purchase Agreements)

Employees of an organ manufacturer clandestinely compete with their employer. Afterward, the employees enter into an asset purchase agreement for the purchase of the company. The original company sues for breach of fiduciary duty and for payment of the 10% of gross annual sales for 10 years called for in the agreement. Case is resolved at a pre-suit mediation by restructuring the original asset purchase agreement. (DLR)

This entry was written by Margy Van Winkle, posted on January 9, 2011 at 6:46 pm, filed under Business. Bookmark the permalink. Follow any comments here with the RSS feed for this post. Both comments and trackbacks are currently closed.

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