After much search, it seemed that I have found a suitable partner for my IP based startup. Things seemed to have progressed well until I asked him to sign a no-compete agreement as part of the deal. He agreed but insisted that he will sign it only as the authorized agent of his single-member LLC, instead of himself.
He initially claimed that this is better for me, because his LLC has liability insurance of up to 13 million dollars, so if anything goes wrong, I can actually get something if I sue him.
But when I said that I am fine with having him personally sign the agreement (despite the insurance his LLC has), he replied that he is not willing to sign the agreement personally.
If you were in my situation, would you go with his proposal? or run away from him as fast as you can?
Please explain the reason for your answer since I am still trying to make sense of unspoken rules of business world as a totally fresh starter.