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Acquisition Non Compete Agreement

Acquisition Non Compete Agreement Generator for the USA

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Key Requirements PROMPT example:

Acquisition Non Compete Agreement

"Need an Acquisition Non-Compete Agreement to prevent the founder of a software development company we're acquiring from starting a competing business within 50 miles of our offices in Texas and California for 3 years after closing in March 2025."

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Document background
The Acquisition Non-Compete Agreement is a critical component of business acquisition transactions in the United States. This document protects the buyer's investment by preventing the seller from immediately establishing a competing business or soliciting customers and employees from the acquired company. The agreement typically includes specific provisions regarding duration, geographic scope, and prohibited activities, all of which must be reasonable and compliant with both federal and state laws. The enforceability varies significantly by state, with some jurisdictions like California having strict limitations on non-compete provisions.
Suggested Sections

1. Parties: Identification of the parties involved in the acquisition and bound by the non-compete

2. Background/Recitals: Context of the acquisition and reason for the non-compete provisions

3. Definitions: Key terms used throughout the agreement including 'Restricted Business', 'Territory', 'Restricted Period'

4. Non-Compete Obligations: Core restrictions and specific prohibited activities

5. Duration and Territory: Time period and geographic scope of restrictions

6. Consideration: Value provided in exchange for non-compete obligations

7. Remedies: Consequences of breach and enforcement mechanisms

8. Governing Law: Jurisdiction and applicable law

Optional Sections

1. Parties: Identification of the parties involved in the acquisition and bound by the non-compete

2. Background/Recitals: Context of the acquisition and reason for the non-compete provisions

3. Definitions: Key terms used throughout the agreement including 'Restricted Business', 'Territory', 'Restricted Period'

4. Non-Compete Obligations: Core restrictions and specific prohibited activities

5. Duration and Territory: Time period and geographic scope of restrictions

6. Consideration: Value provided in exchange for non-compete obligations

7. Remedies: Consequences of breach and enforcement mechanisms

8. Governing Law: Jurisdiction and applicable law

Suggested Schedules

1. Territory Definition Schedule: Detailed description of geographic restrictions and boundaries of the non-compete territory

2. Restricted Business Description Schedule: Detailed scope of business activities covered by the non-compete provisions

3. Consideration Schedule: Details of payment or other consideration provided in exchange for the non-compete obligations

4. Excluded Activities Schedule: List of specifically permitted activities that are carved out from the 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
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Industries

Federal Antitrust Laws: Key federal legislation including Sherman Antitrust Act, Clayton Act, Federal Trade Commission Act, and Hart-Scott-Rodino Act that govern competition and market concentration

State Non-Compete Laws: State-specific regulations governing non-compete agreements, including enforceability rules, duration limits, and geographic restrictions. Note that some states like California largely prohibit non-competes

Employment Laws: Federal and state employment regulations including Fair Labor Standards Act and state-specific employment rules that may impact non-compete provisions

Common Law Principles: Legal doctrines including reasonableness requirements, consideration requirements, and protection of legitimate business interests that courts apply to non-compete agreements

Industry Regulations: Sector-specific restrictions, professional licensing requirements, and trade secret protections that may affect non-compete terms

Securities Laws: SEC regulations, state securities laws, and disclosure requirements that may apply to acquisition-related agreements

Duration Requirements: Legal constraints and reasonableness standards for the temporal scope of non-compete restrictions

Geographic Scope: Requirements for reasonable geographic limitations on non-compete restrictions based on business legitimate interests

Prohibited Activities Scope: Definition and limitations of restricted business activities that must be reasonably related to protecting legitimate business interests

Consideration Requirements: Legal requirements for providing adequate consideration to make the non-compete agreement enforceable

Severability Provisions: Legal framework for including provisions that allow enforcement of remaining terms if some portions are found invalid

Choice of Law and Venue: Legal considerations for selecting and enforcing governing law and jurisdiction for dispute resolution

Breach Remedies: Legal framework for specifying and enforcing consequences of agreement violations, including injunctive relief and damages

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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