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Non Competition Agreement Sale Of Business
"I need a Non Competition Agreement Sale Of Business to protect my software development company in London after selling it, with a 3-year restriction period and coverage across Greater London and the South East of England, to be signed by March 2025."
1. Parties: Identification of the seller and buyer entities
2. Background: Context of the business sale and reason for non-compete provisions
3. Definitions: Key terms used throughout the agreement including Business, Restricted Business, Territory, Restricted Period
4. Scope of Restrictions: Detailed description of prohibited competitive activities and specific undertakings by the seller
5. Duration: Time period for which restrictions apply, including specific start and end dates
6. Geographic Area: Territorial scope of restrictions and definition of covered regions
7. Consideration: Value provided in exchange for non-compete obligations
1. Non-Solicitation: Additional restrictions on approaching employees, customers, or suppliers of the business
2. Confidentiality: Provisions protecting sensitive business information and trade secrets
3. Assignment: Rights to transfer obligations and restrictions to third parties
1. Schedule 1 - Restricted Activities: Detailed list of specific prohibited activities and business operations
2. Schedule 2 - Protected Customers: List of customers covered by non-solicitation provisions if applicable
3. Schedule 3 - Geographic Territory: Detailed description or map of restricted territory with specific boundaries
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