Non-compete and Non-solicitation Agreement for Business (One way / Unilateral) - Loose / Light

Document Name:
Non-compete and Non-solicitation Agreement for Business (One way / Unilateral)
Loose / Light
Document Type:
Agreements / contracts
Business > General Business > Non-Compete / Exclusivity
Detailed Description:
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.
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.

FOR GOOD AND VALUABLE CONSIDERATION, the receipt of which is hereby acknowledged, the Obligor agrees not to compete with or solicit from the Company, or its successors or assigns, subject to the terms and conditions of this Agreement for the purpose of determining its interest in establishing a business relationship between the Obligor and the Company.

The Obligor undertakes to and agrees with the Company that neither it (nor any of its Subsidiaries) shall:

(a) compete with the Company relating to the Business / the Purpose;

(b) solicit from the Company any customers, clients, directors, officers, employees and consultants.
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