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When he sold practice, doctor relinquished non-compete agreement

In Great Lakes Eye Inst, P.C. v. Krebs, the Court of Appeals interpreted a non-compete and liquidated damages clause after the sole shareholder accepted an assignment of the "assets" of the corporation and transferred them to another corporation.  The Court ruled that the unauthorized assignment of the non-compete agreement, contrary to its express language, relieved the employee of any obligations under the contract, and that the contract was perhaps no an asset that could be assigned, in any event.

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