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Non Compete Shareholders Agreement
"I need a Non Compete Shareholders Agreement for my Dublin-based software development company that's bringing in three new investor shareholders in January 2025, with specific focus on protecting our AI technology and preventing them from investing in competing startups in Ireland and the UK for 24 months."
1. Parties: Identification of all parties to the agreement, including the company and all shareholders bound by the agreement
2. Background: Context of the agreement, including company information and purpose of the non-compete provisions
3. Definitions: Detailed definitions of key terms used throughout the agreement, including 'Confidential Information', 'Competitive Business', 'Territory', etc.
4. Duration and Scope: Specific timeframe and geographical scope of the non-compete restrictions
5. Non-Compete Obligations: Detailed restrictions on competitive activities, including specific prohibited actions
6. Confidentiality Obligations: Provisions regarding the protection and non-disclosure of confidential information
7. Non-Solicitation: Restrictions on soliciting employees, customers, or suppliers
8. Consideration: The consideration provided in exchange for the non-compete obligations
9. Transfer of Shares: Procedures and restrictions regarding the transfer of shares
10. Enforcement: Mechanisms for enforcing the agreement, including remedies for breach
11. Severability: Provisions ensuring that if any part of the agreement is found invalid, the rest remains enforceable
12. Governing Law and Jurisdiction: Specification of Irish law as governing law and jurisdiction for disputes
1. Garden Leave: Additional provisions for shareholders who are also employees, specifying terms during notice period
2. International Operations: Additional provisions for companies operating in multiple jurisdictions
3. Intellectual Property: Specific provisions regarding the ownership and protection of IP rights
4. Alternative Dispute Resolution: Procedures for mediation or arbitration before court proceedings
5. Tag-Along Rights: Rights of minority shareholders to join in the sale of shares
6. Drag-Along Rights: Rights of majority shareholders to force minority shareholders to join in the sale
7. Put and Call Options: Options for shareholders to buy or sell shares under specific circumstances
1. Schedule 1 - Shareholder Details: List of all shareholders bound by the agreement, including shareholding percentages
2. Schedule 2 - Restricted Territory: Detailed definition of geographical areas covered by non-compete restrictions
3. Schedule 3 - Competitive Business Activities: Detailed list of prohibited business activities
4. Schedule 4 - Confidential Information: Detailed categorization of what constitutes confidential information
5. Schedule 5 - Share Transfer Procedures: Detailed procedures and forms for share transfers
6. Appendix A - Deed of Adherence: Template for new shareholders to agree to be bound by the agreement
7. Appendix B - Competitors List: List of specific competitors or competing businesses covered by the restrictions
Authors
Technology
Professional Services
Financial Services
Healthcare
Biotechnology
Manufacturing
Retail
Software Development
Consulting
Research and Development
Pharmaceuticals
Engineering
Media and Entertainment
Telecommunications
Legal
Corporate Governance
Board of Directors
Executive Leadership
Corporate Secretariat
Compliance
Risk Management
Business Development
Strategy
Mergers and Acquisitions
Chief Executive Officer
Chief Financial Officer
Chief Operating Officer
Managing Director
Company Director
Board Member
Corporate Counsel
General Counsel
Company Secretary
Head of Legal
Chief Legal Officer
Business Development Director
Senior Partner
Equity Partner
Investment Director
Shareholder Representative
Corporate Governance Officer
Compliance Officer
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