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Non Compete Shareholders Agreement

Non Compete Shareholders Agreement Template for Singapore

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Key Requirements PROMPT example:

Non Compete Shareholders Agreement

"I need a Non Compete Shareholders Agreement for my Singapore-based technology startup that prevents our three founding shareholders from competing with our AI development business for 24 months after they exit, specifically within the APAC region."

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Document background
The Non Compete Shareholders Agreement is a crucial document for Singapore companies seeking to protect their business interests from competitive activities by their shareholders. This agreement becomes particularly important during ownership transitions, new shareholder entries, or when implementing corporate governance structures. It must carefully balance the company's need for protection with Singapore's strict requirements for reasonable restrictions in terms of duration, geographic scope, and business activities. The document typically includes detailed provisions about restricted activities, confidentiality obligations, and enforcement mechanisms, all tailored to comply with Singapore's legal framework.
Suggested Sections

1. Parties: Identification and details of all shareholders and the company

2. Background: Context of the agreement and existing shareholding structure

3. Definitions: Key terms used throughout the agreement

4. Non-Compete Obligations: Core restrictions including scope, duration, and geographic coverage of non-compete provisions

5. Term and Termination: Duration of the agreement and circumstances for termination

6. Confidentiality: Protection of company and shareholder confidential information

7. Governing Law and Jurisdiction: Specification of Singapore law as governing law and jurisdiction for disputes

Optional Sections

1. Employee Obligations: Additional restrictions and obligations specific to shareholders who are also employees

2. Share Transfer Restrictions: Additional limitations and procedures for transfer of shares

3. Non-Solicitation: Restrictions on soliciting employees, customers, or suppliers

4. Dispute Resolution: Specific procedures for resolving disputes, including mediation or arbitration provisions

Suggested Schedules

1. Schedule 1 - Schedule of Shareholders: Comprehensive list of all shareholders and their respective shareholdings

2. Schedule 2 - Restricted Business Activities: Detailed list of prohibited business activities under the non-compete provisions

3. Schedule 3 - Restricted Territories: Geographic areas where non-compete restrictions apply

4. Schedule 4 - Excluded Activities: List of permitted activities explicitly excluded from non-compete restrictions

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

























Industries

Companies Act (Chapter 50): Primary legislation governing corporate entities in Singapore, covering shareholder rights and obligations, corporate governance requirements, and share transfer restrictions

Competition Act (Chapter 50B): Legislation governing market competition, including reasonableness of non-compete restrictions, market competition considerations, and prevention of anti-competitive practices

Contract Law: Common Law principles governing contract formation, consideration requirements, and contractual enforceability in Singapore

Employment Act (Chapter 91): Legislation relevant when shareholders are also employees, governing reasonable restrictions on post-employment activities

Doctrine of Restraint of Trade: Legal principle requiring non-compete clauses to be reasonable in geographic scope, duration, and scope of restricted activities while protecting legitimate business interests

Singapore Courts' Precedents: Conservative approach in enforcing non-compete clauses, requiring demonstration of legitimate proprietary interest and passing the reasonableness test

Industry-Specific Regulations: Business and industry-specific regulations, market conditions, and competitive landscape considerations that may affect the non-compete agreement

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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