Non Compete And Non Solicitation Agreement

None Compete and non-Solicitation Agreement is a subsequent agreement executed after executing business sales agreement. The main objective behind such an agreement are

• Make it clear what business sold by the selling company and what is remaining with selling company.
• Non competition period and compensation etc. for that period
• Apart from transferor company, ensure all promoters of the seller company responsible for the clauses of this agreement

Main points covered in the agreement are ;

1. What business covered in the agreement and what business not covered of the seller
2. Areas of restriction with full details and period
3. Compensation for violation of agreement