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

3K views 15 replies 4 participants last post by  Duekster 
#1 ·
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.
 
#3 ·
why do you need a non-compete if you are going back to school?
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.
 
#8 ·
IMHO, Garly is right, the buyer would write the Noncompete, the seller a non-disclosure, no raid contract. Sad world we have come too.
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.
 
#10 ·
You are correct...I used the wrong term and yes, I will search google...thanks.
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:
 
#11 ·
I did a little searching on google this morning, but didnt find anything. I didnt look that much though. I thought for sure somebody on here might have something.
 
#12 ·
I did a little searching on google this morning, but didnt find anything. I didnt look that much though. I thought for sure somebody on here might have something.
I have some basic language I use for employement and it was designed for Texas. I paid a few thousand for it too. Did you check legal zoom?

You are going to have to pay something to get one and that is what it is. You could try to hire a broker and get him to draft one for you and handle the sale but it will cost you a fee at the time of sale. He will likely over price it but then again he could get you more too.

Really, how much in sales do you have? Do you have contracts and so forth. The value is going to dictate how much you get and how much you should spend to protect the assets with the legal end.
 
#13 ·
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:
dont forget the first born. ya kno, to cover legal costs
 
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