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How is Competitive Products defined in a legal contract?

• Competitive Products means those that directly or indirectly compete, are substantially similar to, or can reasonably substitute any product or service in research, development, design, manufacture, production, sale or distribution. Seen in 374 SEC filings.
• Competitive Products means products that serve the same function as, or that could be used to replace, products provided or developed for a current, former, potential customer or partner at any time during the past [number] months or the term of the participant's employment, with which the participant had direct responsibility for. Seen in 84 SEC filings.
• Competitive Products means any product, product line or service, including any components of it or research to develop information useful in connection with a product or service, that is being designed, developed, manufactured, marketed, or sold, or in respect of which valuable business information has been obtained that is intended to be used in the design, development, manufacturing, marketing, or sale of a product or service. Seen in 18 SEC filings.
• Competitive Products means any supplies, equipment, products, goods, or services that are similar to or competitive with supplies, equipment, products, goods, or services that the Company marketed, distributed, or sold during an Executive’s term of employment. Seen in 10 SEC filings.

Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

Competitive Products means products or services directly competing, similar to, or substituting those [organization] provided, developed, marketed, distributed, or sold.

Relevant Contract Types

• Non-Disclosure Agreements (NDA)
• Non-Compete Agreements
• Intellectual Property (IP) Agreements
• Licensing Agreements
• Distributorship Agreements

Relevant Circumstances

• Mergers and Acquisitions
• Strategic Partnerships
• Joint Ventures
• Franchise Agreements
• Intellectual Property Transfers

Relevant Sectors

• Technology
• Manufacturing
• Consumer Products
• Healthcare
• Retail

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Genie Definition 2

Competitive Products means products or services replacing those [organization] provided or planned, touching any present, former or potential customer, during a specified employment or business period.

Relevant Contract Types

• Non-Compete Agreements
• Employment Agreements
• Consulting Agreements
• Vendor Agreements

Relevant Circumstances

• Hiring New Employees
• Consulting Services
• Outsourcing Operations
• Vendor Relationships

Relevant Sectors

• Service Industries
• Consulting
• Human Resources
• Professional Services

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