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Noncompetition Covenant by Seller in Sale of Business Form

Noncompetition Covenant by Seller in Sale of Business Form

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welcome to non-compete covenants in small business sale transactions presented to you by just element drink I promote the towel and let's get started so what exactly is a non-compete covenant and what role does it play in the sale of a business from an owner 12 so essentially when a seller sells a business he or she agrees in a contract to not open another business or not partner with some other business owner and open a business that's going to be in the same business that the buyers taken over so essentially it's an agreement that the seller will not undercut the buyer by trying to steal customers or take away vendors now the role plays in a small business transaction is it's very important that a seller understands the ramifications of a non-compete covenant and offers the proper not could be covenant when buyers inquire about the business and that leads us to our next couple points which are what are the important parts of a non-compete covenant numb

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