Noncompetition and Nonsolicitation Agreement

Before you close the purchase of that business you're buying, get the seller to sign this Noncompetition and Nonsolicitation Agreement.

• The person you bought the business from could become your newest competitor, unless you get them to sign this Noncompetition and Nonsolicitation Agreement as a condition of the closing.
• The seller agrees not to operate a business that competes directly or indirectly with the Business you're acquiring for a specified period of time after completion of the sale (non-competition).
• The seller also agrees not to solicit the customers or employees of the purchaser (non-solicitation).
• The purchaser agrees to keep confidential any proprietary information belonging to the seller.
• This is a generic legal form which can be used anywhere.