Explain legal protection for a business buyer

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Reference no: EM1340436

Explain Legal Protection for a Business Buyer

The solution is more than 300 words, with a reference, to analyze what happens when an entrepreneur buys a business and discovers the previous owner is now working for the competition. The specific textbook case is:
A man entered into a contract to buy a small business from the entrepreneur who had started it. Before completing the formalities, the buyer learned that the entrepreneur had taken a job with a larger rival company. The buyer now fears that the seller is taking vital business information with him to the rival business, and that this will affect the prospects of the small business. How can the buyer protect his interests? What legal protection does he have? Can the contract be declared illegal?

Reference no: EM1340436

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