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Future competition with employer

How do I transition from employment to owning a business that competes with my employer? 
Assuming you haven't signed a "non-compete" agreement, there is nothing ethically or legally wrong with resigning and starting a business that competes with your former employer.

However, the details of when and how your competing business is started are critical to prevent you from violating professional and ethical standards, and possibly even some state laws. In this case, plan your business while still employed, but do not execute your plan.

You should limit talking with anyone about your new business to immediate family and confidential advisors. Discussions with any marketplace contact, like future customers, is highly unethical, unprofessional - and may even be illegal.

Search in this section for issues involving a "non-compete" agreement. 
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AskJim ID: 414