I'm selling the business and need a non-compete contract

Discussion in 'Business Operations' started by walker-talker, May 20, 2012.

  1. walker-talker

    walker-talker LawnSite Platinum Member
    from Midwest
    Posts: 4,771

    I'm going back to college and will be selling my business, more importantly my accounts. I have several interested buyers and they are asking to see the properties...as well as they should. Does anybody have a non-compete contract they would share? What do you recommend? I'm tight and would like to avoid a lawyer, but if that is what I must do, then I will do it. Anybody have any recommendations? I searched this website up and down and couldn't find anything.
     
  2. Duekster

    Duekster LawnSite Fanatic
    from DFW, TX
    Posts: 7,961

    why do you need a non-compete if you are going back to school?
     
  3. birddseedd

    birddseedd LawnSite Silver Member
    Posts: 2,114

    so that the person seeing his customers properties wont go to them and underbid him knowing exactly who to talk to



    search google, not lawnsite.
     
  4. Duekster

    Duekster LawnSite Fanatic
    from DFW, TX
    Posts: 7,961

    That would be a no raid contract if not mistaken.
     
  5. birddseedd

    birddseedd LawnSite Silver Member
    Posts: 2,114

    +1 <------------ whatever this is supposed to mean
     
  6. Garlydog

    Garlydog LawnSite Member
    Posts: 8

    I would think the buyer would want to provide their own non-compete contract. I know I would if I were buying a business. Maybe just offer to sign the buyer's non-compete contract if they wish to provide one.
     
  7. Duekster

    Duekster LawnSite Fanatic
    from DFW, TX
    Posts: 7,961

    IMHO, Garly is right, the buyer would write the Noncompete, the seller a non-disclosure, no raid contract. Sad world we have come too.
     
  8. birddseedd

    birddseedd LawnSite Silver Member
    Posts: 2,114

    OP was just using the wrong term. in red is more what he's wanting. just google those terms alogn with "example" and youll get your start.
     
  9. walker-talker

    walker-talker LawnSite Platinum Member
    from Midwest
    Posts: 4,771

    You are correct...I used the wrong term and yes, I will search google...thanks.
     
  10. Duekster

    Duekster LawnSite Fanatic
    from DFW, TX
    Posts: 7,961

    Does legal zoom have one? I use a lawyer for my forms but this might be a good route for you.

    Basically, I am allowing you to look at my client list and financial, you will not solicit my clients or any successor company for a period of 2 years. If you do, my company or my successor may have damages of an unmeasurable amount and we will own you if you try it. You agree that we will own you and not even put up a fight, and just give up all that you own and all your family owns and will ever own. :laugh:
     

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