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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
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