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Company Non Compete Agreement Template for Nigeria

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Key Requirements PROMPT example:

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."

Document background
The Company Non-Compete Agreement is a crucial legal instrument used in Nigerian business contexts to protect legitimate business interests, trade secrets, and competitive advantages. This document is typically implemented when companies need to safeguard their business interests in relationships with key stakeholders, including other companies, senior executives, or key employees who have access to sensitive information or significant customer relationships. The agreement must comply with Nigerian legal requirements, including the Federal Competition and Consumer Protection Act 2018 and common law principles, ensuring that restrictions are reasonable in scope, duration, and geographic extent. It includes specific provisions for protecting confidential information, preventing unfair competition, and maintaining business relationships, while balancing the rights of all parties involved.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
































Clauses































Relevant Industries

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

Relevant Teams

Executive Leadership

Sales

Business Development

Research and Development

Product Development

Information Technology

Operations

Marketing

Customer Relations

Human Resources

Legal

Finance

Strategy

Relevant Roles

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

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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