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Real Estate Non Compete Agreement
"I need a Real Estate Non-Compete Agreement for my departing senior broker who has managed our Vancouver luxury property portfolio for 5 years; the agreement should restrict them from competing within British Columbia for 2 years starting March 2025, with special focus on the luxury residential market segment."
1. Parties: Identification of all parties to the agreement, including full legal names and addresses
2. Background: Context of the agreement, relationship between parties, and legitimate business interests being protected
3. Definitions: Key terms used throughout the agreement, including 'Restricted Business', 'Territory', 'Confidential Information', and 'Competitive Activities'
4. Scope of Non-Compete: Detailed description of prohibited activities and business operations
5. Geographic Restrictions: Specific definition of the territorial boundaries where the non-compete applies
6. Duration: Time period for which the non-compete restrictions will remain in effect
7. Consideration: The value or benefit provided in exchange for the non-compete obligations
8. Confidentiality Obligations: Provisions regarding the protection of confidential information and trade secrets
9. Remedies for Breach: Consequences of violation, including injunctive relief and damages
10. Severability: Provision ensuring that if any part is found unenforceable, the remainder stays valid
11. Governing Law: Specification of Canadian law and relevant provincial jurisdiction
12. General Provisions: Standard contract clauses including notices, amendments, and entire agreement
1. Non-Solicitation: Additional restrictions on soliciting clients, employees, or suppliers - used when broader protection is needed
2. Assignment Rights: Provisions regarding the ability to transfer rights under the agreement - included when assignment might be contemplated
3. Dispute Resolution: Specific procedures for resolving disputes, such as mediation or arbitration - used when parties want to avoid court litigation
4. Survival: Specification of which provisions survive termination - included when certain obligations should continue past the agreement's end
5. Insurance Requirements: Obligations to maintain specific insurance coverage - included when risk management is a concern
6. Reporting and Compliance: Mechanisms for monitoring compliance - used in high-value or high-risk situations
1. Schedule A - Restricted Territory: Detailed maps or descriptions of the geographical areas covered by the non-compete
2. Schedule B - Restricted Business Activities: Comprehensive list of specific business activities that are prohibited
3. Schedule C - Consideration Details: Breakdown of any financial or other consideration provided for the non-compete
4. Schedule D - Excluded Activities: List of specific activities that are permitted despite the non-compete
5. Appendix 1 - Compliance Certificate: Template for periodic certification of compliance with the agreement
6. Appendix 2 - Notice Requirements: Detailed procedures and contact information for required notices under the agreement
Authors
Real Estate
Property Development
Commercial Property
Residential Property
Real Estate Investment
Property Management
Real Estate Brokerage
Real Estate Consulting
Construction
Real Estate Technology
Legal
Real Estate Operations
Business Development
Compliance
Human Resources
Executive Leadership
Sales
Property Management
Investment
Risk Management
Real Estate Agent
Real Estate Broker
Property Manager
Real Estate Development Manager
Real Estate Investment Manager
Business Development Director
Real Estate Consultant
Real Estate Operations Manager
Branch Manager
Real Estate Sales Director
Franchise Development Manager
Real Estate Legal Counsel
Chief Executive Officer
Managing Director
Regional Sales Manager
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