Non-Compete Agreement Issues to Consider When Buying a Business

Ten Non-Compete Issues to Consider When Buying a Business

It is sometimes important to have the seller of the business sign a Non-Competition Agreement with the buyer of the business. These are sometimes referred to as "covenants not to compete." They are used to avoid the situation wherein the seller opens a competing business down the street or across town (or in the case of an Internet-related business, possibly anywhere in the world). A Non-Competition Agreement is typically a separate agreement, but its form is attached to and referenced within the Purchase Agreement. 

This article provides 10 issues that need to be consider when structuring a non-compete agreement.

 

Ten Non-Compete Issues to Consider When Buying a Business | Fisher & Phillips LLP - JDSupra

For a complimentary consultation:
Contact  Cecil Williams (cecil@bizbrokerflorida.com) or call  at 888-925-5055 ext.206.  Visit my personal website to search for business for sale in Florida www.bizbrokerflorida.com  Also, visit our Florida Business Exchange website at www.fbxbrokers.com

 

Ten Non-Compete Issues to Consider When Buying a Business

How do you avoid concerns that after buying a business the former owner to immediately go into competition with you? The way you prevent that is by including a “Non-Compete” Clause is the sales contract. This above article hass a list of ten clauses you may want to include as part of the sale. Every business is different so not all of them will be necessary in your case. Legal issues like non-compete clauses are obviously something your lawyer will take the lead on, but you should still try to be as informed on these issues as possible so you understand what is going on.

Link: http://www.jdsupra.com/legalnews/ten-non-compete-issues-to-consider-when-41364/

For a complimentary consultation:
Contact Cecil Williams (cecil@bizbrokerflorida.com) or call  at 888-925-5055 ext.206.  Visit my personal website to search for business for sale in Florida www.bizbrokerflorida.com  Also, visit our Florida Business Exchange website at www.fbxbrokers.com