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.
Last Updated: 30-June-2021