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Company Non Compete Agreement
"I need a Company Non-Compete Agreement under Nigerian law for a technology consulting firm, restricting former employees from working with direct competitors or soliciting our clients for 18 months within Lagos and Abuja regions."
1. Parties: Identification of the company and the bound party (could be employee, contractor, or another company)
2. Background: Context of the agreement, relationship between parties, and legitimate business interests being protected
3. Definitions: Key terms used throughout the agreement, including 'Confidential Information', 'Competing Business', 'Restricted Period', and 'Restricted Territory'
4. Scope of Non-Compete: Clear definition of prohibited competitive activities and business areas
5. Duration and Geographic Limits: Specific timeframe and geographical boundaries of the non-compete restrictions
6. Protection of Confidential Information: Obligations regarding confidential information and trade secrets
7. Non-Solicitation Obligations: Restrictions on soliciting employees, customers, or suppliers
8. Acknowledgment of Reasonableness: Party's acknowledgment that restrictions are reasonable and necessary
9. Consideration: The benefit or payment provided in exchange for the non-compete obligations
10. Remedies: Available remedies in case of breach, including injunctive relief
11. Governing Law and Jurisdiction: Specification of Nigerian law and relevant courts
12. Execution: Signature blocks and execution requirements
1. Garden Leave: Optional provision for paid non-compete period, typically used for senior executives
2. Assignment Rights: Include when the agreement needs to be transferable to company successors
3. Severability and Modification: Detailed provisions for court modification of unreasonable terms, particularly important in complex commercial contexts
4. Post-Termination Obligations: Additional specific obligations after relationship termination, used in more complex commercial relationships
5. Monitoring and Compliance: Procedures for monitoring compliance, typically included for senior roles or complex business relationships
6. Exception for Shareholdings: Allows ownership of small percentages of publicly traded companies, typically included for sophisticated parties
1. Schedule 1: Restricted Activities: Detailed list of specific activities that constitute competing business
2. Schedule 2: Restricted Territory: Detailed mapping or list of geographical areas where restrictions apply
3. Schedule 3: Consideration Details: Breakdown of any financial or other consideration provided
4. Schedule 4: Key Customers and Suppliers: List of specific customers and suppliers covered by non-solicitation provisions
5. Schedule 5: Confidential Information Categories: Detailed categorization of protected confidential information
Authors
Technology and Software
Financial Services
Manufacturing
Professional Services
Healthcare
Telecommunications
Energy and Resources
Retail and Consumer Goods
Media and Entertainment
Pharmaceutical and Biotechnology
Engineering and Construction
Education and Training
Executive Leadership
Sales
Business Development
Research and Development
Product Development
Information Technology
Operations
Marketing
Customer Relations
Human Resources
Legal
Finance
Strategy
Chief Executive Officer
Managing Director
Chief Technology Officer
Chief Financial Officer
Sales Director
Business Development Manager
Senior Software Engineer
Product Manager
Research Director
Operations Manager
Marketing Director
Regional Manager
Account Executive
Technical Lead
Department Head
Senior Consultant
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