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 agreement imposes loose obligations on the Obligor.
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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.The Company has the key relationships with its customers, clients and / or employees and would want to ensure its potential business partner agrees non to compete with its existing business or solicit its customers or employees before commencing / continuing any business discussions.This template is drafted in short and simple form to procure signing without negotiation.
The agreement imposes loose obligations on the Obligor. It permits competition and solicitation in certain scenarios; does not expressly provide for injunctive relief/liquidated damages to the company in case of breach by the Obligor.
This document comes into play when you need to restrict business partner from competing with the Company's business and from soliciting the clients, customers of the company subject to certain exceptions.
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.