Rasmussen Heating & Cooling, Inc. v. Idso

OXBERGER, Chief Judge.

Bonnie and Donald Idso and Jerry Dan-bom owned Lakeside Lifts, a corporation which builds and sells boat hoists. In 1982 the Idsos sold their share of the business to the Rasmussens pursuant to a stock purchase agreement which contained a covenant prohibiting the Idsos from engaging *704in a business “similar to” Lakeside Lifts for a period of ten years. After the sale, the Idsos opened a welding shop near Lakeside Lifts. In 1986, the Idsos built a 4,000 pound boat hoist for Tom Clary, Danbom’s competitor. This hoist became a prototype for multiple hoists built by Idso for…