Non-Compete After the Sale of Business

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This attorney-prepared form contains provisions whereby the party who is selling a business, or business assets, agrees not to operate a similar business which will compete with the buyer.

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This Non-Compete Agreement after the sale of a business, although not actually used to transfer ownership of any business assets, may often be used separately during the course of various business transfer transactions. It provides for the party who is selling a business or business assets to agree not to operate a similar business which will compete with the buyer.

The terms include a geographical limitation (in terms of miles of radius) on how closely such a competing business can be operated. Also included is a time limit (in term of years) that such an agreement will be in effect.

This attorney-prepared packet contains:
  1. Information about the Non-Compete Agreement
  2. Non-Compete Agreement (after the sale of a business)
State Law Compliance: This form can be used in your state.
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.





Agreement Not to Compete
(after the sale of a business)







This Packet Includes:
1. Information
2. Agreement Not to Compete (after the sale of a business)
 





Information
Agreement Not to Compete (after the sale of a business)



This form, although not actually used to transfer ownership of any business assets, may often be used separately during the course of various business transfer transactions. It provides for the party who is selling a business or business assets to agree not to operate a similar business which will compete with the buyer. The terms include a geographical limitation (in terms of miles of radius) on how closely such a competing business can be operated. Also included is a time limit (in term of years) that such an agreement will be in effect.







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AGREEMENT NOT TO COMPETE



This Agreement is made on ______, 20 __, between _______________ , Seller, of ____________________________ , City of __________________, State of _____________________ , and ___________________, Buyer, of _________ , City of __________________, State of _____________________ .

The Seller now owns and conducts a ___________________________________________business, under the name of ________________________________________ , at _______________________________ , City of __________________ , State of ____________________________.


For valuable consideration, the Buyer and Seller agree as follows:

1. The Seller agrees not to compete, either directly or indirectly, with the business of the Buyer for a period of ___________________ years from the date of this agreement.

2. This agreement will only extend for a radius of ___________________ miles from the present location of the business of the Buyer.

3. The Seller agrees that "not to compete" means that the Seller will not engage in any manner in a business or activity similar to that of the Buyer's.

4. If the Seller violates this agreement, the Buyer will be entitled to an injunction to prevent such competition, without the need for the Buyer to post any bond. In addition, the Buyer will be entitled to any other legal relief.

5. Any additional terms:


6. No modification of this Agreement will be effective unless it is in writing and is signed by both the Buyer and Seller. This Agreement binds and benefits both the Buyer and Seller and any successors. Time is of the essence of this agreement. This document, including any attachments, is the entire agreement between the Buyer and Seller. This Agreement is governed by the laws of the State of __________________________.


Dated: ______________________________, 20 ____

______________________________
Signature of Seller


DBA _________________________
Name of Business

A(n) ____________________ (state of operation) sole proprietorship


______________________________
Signature of Buyer
Number of Pages2
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#22030

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