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Non Compete Agreement Buying A Business
"I need a Non Compete Agreement Buying A Business for purchasing a Singapore-based software development company, with a 3-year restriction period within Southeast Asia, and specific provisions preventing the seller from developing similar enterprise software solutions."
1. Parties: Identification of buyer and seller with full legal names and addresses
2. Background: Context of the business sale and reason for non-compete provisions
3. Definitions: Key terms used tHRoughout the agreement including business scope, territory, and restricted activities
4. Non-Compete Obligations: Core restrictions including duration, geographic scope, and prohibited activities
5. Duration: Time period for which restrictions apply
6. Territory: Geographic scope of restrictions
7. Consideration: Value provided in exchange for non-compete obligations
1. Non-Solicitation Provisions: Additional restrictions on approaching customers or employees of the business
2. Confidentiality Obligations: Protection of business information and trade secrets that were shared during business operations
3. Assignment Rights: Provisions regarding the right to transfer agreement obligations, particularly relevant if buyer might restructure or sell business
1. Description of Business: Detailed scope of business being protected under the non-compete agreement
2. Territory Map: Visual representation and/or detailed description of restricted geographic area
3. Restricted Activities: Comprehensive list of specific prohibited business activities
4. Customer List: List of protected customer relationships if applicable to the scope of restrictions
Authors
Business
Closing Date
Commencement Date
Competitive Business
Confidential Information
Consideration
Customers
Effective Date
Goodwill
Intellectual Property Rights
Non-Compete Period
Parties
Products
Prohibited Activities
Purchase Agreement
Restricted Business
Restricted Period
Restricted Territory
Seller's Knowledge
Services
Subsidiaries
Territory
Trade Secrets
Transaction Documents
Duration and Term
Geographic Scope
Non-Solicitation
Confidentiality
Consideration
Permitted Activities
Representations and Warranties
Remedies and Enforcement
Severability
Assignment
Indemnification
Governing Law
Jurisdiction
Amendment and Modification
Notices
Entire Agreement
Survival
Force Majeure
Termination
Independent Contractor
Waiver
Third Party Rights
Reasonableness of Restrictions
Acknowledgments
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