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Expert's Evidence Is Key to Reversing a Zero Damages Verdict

Posted 6:45 PM by

Heritage Operating, LP v. Rhine Bros. LLC, 2012 Tex. App. LEXIS 4939 (June 21, 2012)

During the sale of their well-established propane business - including 10 locations in Texas and across the South - all but one of the owners decided to stay with the company under new management. The one retiring owner signed a noncompete agreement (as did the others), which prohibited him from engaging in a propane business for 10 years beyond the date of sale (2003) and within a 75-mile radius of the company's Texas location. The buyer agreed to pay the owner $500,000 for the noncompete agreement, paid out over five years; their contract also stipulated that $7 million of the $15.5 million purchase price was for the goodwill and other intangible assets of the firm, including its customers and pricing lists. Read more

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