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 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.
The guy you bought the business from could become your newest competitor, unless you get him to sign this Noncompetition and Nonsolicitation Agreement as a condition of the closing.
Last Updated: 14-April-2016