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Non Compete Agreement Between Business Partners
"I need a Non Compete Agreement Between Business Partners for my tech consultancy firm, where my current business partner is leaving to start their own venture in March 2025, and we need to restrict competition within Greater London for 24 months."
1. Parties: Identification and details of the business partners entering into the agreement
2. Background: Context of the agreement and business relationship between the parties
3. Definitions: Key terms used throughout the agreement
4. Scope of Non-Compete: Detailed description of prohibited activities and competition restrictions
5. Duration: Time period for which restrictions apply
6. Geographic Scope: Territorial limitations of the restrictions
7. Confidentiality Obligations: Protection of business information and trade secrets
8. Breach and Remedies: Consequences of violation and available legal remedies
9. Governing Law: Specification of applicable law and jurisdiction
1. Garden Leave: Terms for paid leave during notice period - used when partners have active operational roles in the business
2. Non-Solicitation: Restrictions on approaching clients or employees - used when client/employee relationships are crucial to business
3. Consideration: Details of payment or benefit in exchange for restrictions - used when specific compensation is offered for non-compete obligations
4. Severability: Provisions for partial enforcement if parts are found invalid - used when agreement covers multiple jurisdictions or complex restrictions
1. Schedule of Restricted Businesses: List of specific competitors or business types covered by restrictions
2. Schedule of Restricted Territories: Detailed geographical areas where restrictions apply
3. Schedule of Confidential Information: Specific details of protected business information
4. Schedule of Existing Clients: List of clients covered by non-solicitation provisions if applicable
Authors
Business
Confidential Information
Commencement Date
Competitive Business
Effective Date
Group
Intellectual Property Rights
Non-Compete Period
Partners
Partnership
Partnership Agreement
Parties
Prohibited Area
Restricted Business
Restricted Clients
Restricted Period
Restricted Services
Term
Territory
Trade Secrets
Working Day
Duration
Non-Competition
Geographic Restrictions
Confidentiality
Non-Solicitation
Non-Dealing
Trade Secrets
Intellectual Property
Consideration
Reasonableness
Exceptions
Garden Leave
Remedies
Enforcement
Severability
Assignment
Variation
Notices
Third Party Rights
Entire Agreement
Waiver
Force Majeure
Governing Law
Jurisdiction
Counterparts
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