Established Customer Law and Legal Definition
Established customer refers to any person for whom a broker or dealer, or a clearing broker on behalf of such broker or dealer, carries an account. Established customers also make security transaction or deposit funds or securities in the account for more than one year. They also make three purchases of penny stocks that occurred on separate days and involved different issuers. The goodwill of established customers is at issue when a departing employee agrees not to solicit those customers because goodwill is the value that results from the probability that old customers will continue to trade with an established concern. [Vanguard Envtl., Inc. v. Curler, 2008 OK CIV APP 57 (Okla. Ct. App. 2007)].
