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Non Compete Shareholders Agreement

Non Compete Shareholders Agreement Template for South Africa

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Key Requirements PROMPT example:

Non Compete Shareholders Agreement

"I need a Non-Compete Shareholders Agreement for a South African technology startup with five founding shareholders, including specific provisions for protection of software development IP and a three-year restriction period within the Southern African Development Community region."

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Document background
The Non-Compete Shareholders Agreement is a crucial document for South African companies seeking to protect their business interests by preventing shareholders from engaging in competitive activities. This agreement is particularly important when shareholders have access to sensitive information, strategic plans, or key business relationships. It must comply with South African legislation, including the Companies Act 71 of 2008 and Competition Act 89 of 1998, ensuring that restrictions are reasonable and enforceable. The document typically includes detailed provisions on restricted activities, geographical scope, duration of obligations, confidentiality requirements, and enforcement mechanisms. It's commonly used during company formations, strategic investments, or when new shareholders join an existing business, particularly in industries where competitive advantage and intellectual property are vital assets.
Suggested Sections

1. Parties: Identification of all shareholders and the company, including registration numbers and addresses

2. Background: Context of the agreement, including company structure and reasons for the non-compete provisions

3. Definitions and Interpretation: Key terms used in the agreement, including 'Confidential Information', 'Competing Business', 'Restricted Territory', etc.

4. Duration and Application: Period of the non-compete obligations and circumstances triggering their application

5. Non-Compete Obligations: Specific restrictions on competitive activities, including geographical and business scope

6. Confidentiality Obligations: Protection of company and shareholder confidential information

7. Shareholding Requirements: Minimum shareholding requirements and consequences of share disposal

8. Transfer Restrictions: Limitations on transfer of shares and pre-emptive rights

9. Enforcement and Remedies: Rights and remedies in case of breach, including injunctive relief

10. General Provisions: Standard clauses including governing law, jurisdiction, notices, and amendment procedures

Optional Sections

1. Garden Leave: Provisions for paid non-compete period post-employment, relevant for shareholder-employees

2. Intellectual Property Rights: Special provisions for protection of IP, relevant where shareholders are involved in technical development

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

4. Put and Call Options: Rights to force sale or purchase of shares in specific circumstances

5. Dispute Resolution: Alternative dispute resolution mechanisms like mediation or arbitration

6. Tag-Along and Drag-Along Rights: Rights for minority shareholders to join in sale or be forced to sell

7. Digital Assets and Social Media: Restrictions regarding online presence and digital competition

Suggested Schedules

1. Schedule 1: Shareholder Details: Complete list of shareholders with their shareholding percentages and classes of shares

2. Schedule 2: Restricted Territory: Detailed definition of geographical areas where competition is restricted

3. Schedule 3: Competing Business Activities: Specific description of business activities considered competitive

4. Schedule 4: Confidential Information: Detailed list of types of information considered confidential

5. Schedule 5: Pre-existing Business Interests: Declaration of shareholders' existing business interests that are excluded from restrictions

6. Appendix A: Deed of Adherence: Template for new shareholders to agree to the terms of the agreement

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

Professional Services

Manufacturing

Retail and Distribution

Financial Services

Healthcare

Consulting

Research and Development

Engineering

Media and Entertainment

Telecommunications

Biotechnology

Education and Training

Relevant Teams

Legal

Corporate Governance

Executive Leadership

Board of Directors

Compliance

Corporate Secretary Office

Mergers and Acquisitions

Business Development

Strategic Planning

Shareholder Relations

Relevant Roles

Chief Executive Officer

Managing Director

Company Secretary

Chief Legal Officer

Corporate Lawyer

Business Development Director

Chief Financial Officer

Board Member

Shareholder Relations Manager

Investment Director

Compliance Officer

Corporate Governance Manager

Strategic Planning Director

Venture Capital Partner

Private Equity Manager

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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