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Non Compete Clause In Share Purchase Agreement

Non Compete Clause In Share Purchase Agreement Template for Pakistan

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Key Requirements PROMPT example:

Non Compete Clause In Share Purchase Agreement

"I need a Non-Compete Clause in Share Purchase Agreement for selling my Pakistani software development company, with a 3-year restriction period starting March 2025, covering operations in Pakistan and the UAE, and including specific provisions to protect our proprietary technology and client relationships."

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Document background
The Non-Compete Clause In Share Purchase Agreement is essential in Pakistani business transactions where a company or individual is acquiring shares and wishes to protect the acquired business from competition by the selling shareholder(s). This document is particularly crucial in scenarios where the seller possesses significant industry knowledge, customer relationships, or trade secrets that could potentially harm the business if used competitively. Under Pakistani law, such clauses must be carefully drafted to balance business protection with constitutional rights to trade and commerce. The document typically includes specific details about restricted activities, geographic limitations, duration of restrictions, and consideration provided for the non-compete obligations. It must comply with both the Contract Act 1872 and Competition Act 2010, while considering relevant Pakistani court precedents on restrictive covenants.
Suggested Sections

1. Parties: Identification of the Seller(s), Purchaser(s), and the Company whose shares are being transferred

2. Background: Context of the transaction, including current shareholding structure and business nature

3. Definitions and Interpretation: Key terms used in the agreement, including specific business terminology and technical definitions

4. Sale and Purchase of Shares: Core transaction terms including number of shares, price, and payment mechanisms

5. Non-Compete Obligations: Detailed restrictions on competitive activities, including scope, duration, and geographical limitations

6. Duration and Geographic Scope: Specific timeframe and territorial limits of the non-compete restrictions

7. Prohibited Activities: Detailed description of activities the Seller is restricted from engaging in

8. Consideration for Non-Compete: Specific consideration being provided for the non-compete obligations

9. Exceptions and Permitted Activities: Activities explicitly allowed despite the non-compete restrictions

10. Representations and Warranties: Standard and specific warranties regarding the shares, business, and capacity to enter into non-compete

11. Remedies and Enforcement: Consequences of breach and enforcement mechanisms

12. Governing Law and Jurisdiction: Confirmation of Pakistani law application and jurisdiction for disputes

13. Execution: Signature blocks and execution formalities

Optional Sections

1. Confidentiality Obligations: Additional confidentiality provisions beyond standard non-compete - used when sensitive information is involved

2. Non-Solicitation: Restrictions on soliciting employees, customers, or suppliers - included when business relationships are crucial

3. Training and Transition Support: Terms for post-sale support or training - used when seller's expertise is valuable

4. Independent Legal Advice: Confirmation of receiving independent legal advice - used in high-value or complex transactions

5. Tax Provisions: Specific tax-related terms - included when transaction has significant tax implications

6. Regulatory Compliance: Additional compliance requirements - needed for regulated industries

7. Dispute Resolution: Alternative dispute resolution mechanisms - included when parties prefer arbitration/mediation

Suggested Schedules

1. Share Details: Detailed description of shares being transferred including share certificates numbers and class

2. Business Description: Detailed description of the Company's business activities covered by non-compete

3. Competing Businesses: List of specific competitors or competing activities covered by restrictions

4. Geographic Territories: Detailed maps or descriptions of restricted geographic areas

5. Payment Schedule: If consideration is paid in installments or includes deferred payments

6. Existing Customer List: List of current customers covered by non-solicitation (if applicable)

7. Key Employee List: List of key employees covered by non-solicitation (if applicable)

8. Regulatory Approvals: List of required regulatory approvals and status

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions




































Clauses




























Relevant Industries

Technology and Software

Manufacturing

Professional Services

Healthcare and Pharmaceuticals

Retail and Consumer Goods

Financial Services

Telecommunications

Education and Training

Industrial Services

Consulting

Real Estate and Construction

Energy and Resources

Relevant Teams

Legal

Corporate Affairs

Compliance

Finance

Executive Leadership

Business Development

Risk Management

Mergers & Acquisitions

Strategy

Operations

Relevant Roles

Chief Executive Officer

Managing Director

Corporate Lawyer

Legal Counsel

Business Development Manager

Chief Financial Officer

Company Secretary

Compliance Officer

Risk Manager

Mergers & Acquisitions Director

Board Member

Commercial Director

Strategy Director

General Counsel

Operations Director

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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