One way Non Compete and Non Solicitation agreement for discussion of business relationship. It imposes a unilateral non-compete and non-solicitation obligation on one party. This is drafted in short and simple form to procure signing without negotiation. This is drafted in neutral form.
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Non Compete and Non Solicitation agreement for discussion of business relationship. It imposes a unilateral non-compete and non-solicitation obligation on one party. It is drafted in short and simple form to procure signing without negotiation. The Company has the key relationships with its customers, clients and / or employees and would want to ensure that its potential business partner agrees not to compete with its existing business or solicit its customers or employees before commencing / continuing any business discussions.
This is drafted in neutral form. The agreement imposes obligations on the Obligor but permits competition and solicitation in certain scenarios and the Company has the right to injunctive relief/liquidated damages/account of profits in case of breach by the Obligor.
How to use this Document?
This document comes into play when you need to restrict a business partner from competing with the Company's business and to not to solicit the clients, customers of the company.
The time period and the geographical area for non-competition must be clearly mentioned in the template.
Both parties should sign and return a copy, and once signed, both parties should get a copy. To avoid any future disputes, both parties may wish to have their signatures witnessed.