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Ed Turner
Ed Turner,
Category: Law
Satisfied Customers: 1913
Experience:  Director and Consultant Solicitor (Self-Employed) at Ed Turner LLB Limited
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I have a contract which details some terms of an accelerator

Customer Question

Hi - I have a contract which details some terms of an accelerator program I joined. In the contract it says:
JA: Where are you? It matters because laws vary by location.
Customer: England
JA: What steps have you taken so far?
Customer: In the six months following the start date, you must not execute any term sheet or agreementrelating to any investment into any business or company worked on or created by you without COMPANY X’s prior written consent. Doing so may be deemed improper behaviour and result in the termination of your participation in COMPANY X.
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: We want to sell shares in our company within the 6 months - what liability do we have, assuming the above clause?
Submitted: 15 days ago.
Category: Law
Customer: replied 15 days ago.
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Customer: replied 15 days ago.
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Expert:  Virtual-mod replied 14 days ago.

I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.

I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.

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Expert:  Ed Turner replied 13 days ago.

Hello.   I am Ed, a Solicitor qualified in England & Wales with over a decade’s experience in the legal profession advising clients.

I specialise in Commercial Contracts, Business Transactions, Employment, Dispute Resolution, Personal Injury and Road Traffic Law and shall be reviewing your legal problem today.

Regarding the site’s automatic offer of a Premium Service Phone Call, I shall be delighted to talk with you by phone to discuss your issue in greater detail if you accept the offer.

However, if you do not want a phone call, please cancel the offer for a Premium Service Phone Call and you will not be charged extra.

Expert:  Ed Turner replied 13 days ago.

To enable me to answer your query, please provide me with some further information about your legal issue and how you want a lawyer to help you.

Have you sought the consent of Company X and if so what was their response.

Expert:  Ed Turner replied 11 days ago.

I note that you have not replied to my request for further information.   I shall therefore post a “general answer” to your type of legal issue.    Please revert to me if I am mistaken as to your type of legal issue or if my answer does not fit the facts of your situation and I shall be delighted to amend my answer accordingly.

Expert:  Ed Turner replied 11 days ago.

I suggest that for the time being, you write back to the other party and ask them for further details of how you are alleged to have breached their legal rights and what steps you can take to correct the situation.     Be polite, professional, and conciliatory at this stage.   Do not get too formal, legalistic, or aggressive straightaway.    Hopefully, this matter can be resolved quickly and informally without involving solicitors.

If the other party want to assert their legal rights against you, they must do so proactively.   It is for a claimant to pursue their claim and prove each and every aspect of it.   You are under no obligation to encourage or assist them until they issue you with a formal pre-action Letter of Claim and then Court Proceedings.   Even then, you only need to comply with your obligations to the Court as a Defendant to respond to a claim and provide witness and documentary evidence in compliance with court directions.   You do not need to investigate the claimant’s claim on their behalf.

The Civil Procedure Rules 1998 govern the conduct of all civil court litigation in England and Wales.   The Pre-action Protocol requires a claimant to send a defendant a Letter of Claim setting out the reasons why the claimant believes that the defendant is at fault and has caused them financial loss, or some other form of loss, such as personal injury.   The claimant must include details of their losses and evidence in support, such as invoices, repair estimates or an expert assessor report.  If you receive a letter of claim from the other party, then you should have a clear idea of what wrongdoing you are alleged to have committed and what losses the claimant alleges that you have caused them.

Expert:  Ed Turner replied 11 days ago.

I hope this resolves your enquiry.   Please revert to me if you require any clarification of my answer to your question and I shall be delighted to assist.

Kind regards