[Consultation] Drafting of Stock Transfer Agreement with Influencer

A, which operates an advertising agency, intended to proceed with a stock transfer agreement in order to transfer a portion of its shares to Kim, a famous influencer who is an employee of A. Therefore, it requested a legal review of the stock transfer agreement with Law firm Veat.

A had already concluded an employment contract with Kim, the influencer, including a clause specifying the transfer of a certain number of shares. However, it wanted to reflect the clause in the stock transfer agreement and the non-compete clause.

Law firm Veat reflected the matters requested by A in the stock transfer agreement, particularly noting that excessively long non-compete clauses would not be recognized as valid, and limited the term to a reasonable period. The non-compete clause prohibits working in a competing industry when a labor contract is established, which is generally reflected in employment contracts. However, to ensure its validity, it is advisable to limit the term to a reasonable period.

Law firm Veat, based on its accumulated experience and know-how through numerous cases, provides diverse and professional consulting by analyzing legal issues related to investment from various perspectives, and developing the best solutions for the issues.

Law firm Veat, based on its accumulated experience and know-how through numerous cases, suggests ways for both MCN companies and creators to coexist by coordinating the requirements of both parties. If you need legal advice on various aspects such as MCN business operations, employment contracts, and stock transfer agreements, please feel free to contact Law firm Veat anytime.

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Law firm Veat