No Compete Agreement

[Predator]

Hello from Baltimore, This is my first time posting on here, great site, thanks for being here. My partner and I are buying out a small company and were curious what everybody else does about a no compete agreement . All comments are appreciated and anything we could download as a template would be great.

[CFD192]

Lawn care business tips

here is one we made up and we twicked it a little there is alot that doesn't to pertain to everyone, but definately spell out what you are purchasing with it whether equipment, or contracts.

Attached Files

PURCHASE AND SALE OF BUSINESS AGREEMENT.docx (23.1 KB, 496 views)

[Predator]

Awesome, thankyou

[Steve]

Can you repost that as a doc file?


Welcome to our forum!

My partner and I are buying out a small company and were curious what everybody else does about a no compete agreement

Can you tell us a little more about what is going on? Are you currently running a lawn care business and expanding it with this purchase or are you starting up with this purchase?

Also what made you decide to choose this one?

[Predator]

Hey Steve,
Thanks for responding. My partner and I both had our own small operations going on the side in addition to our f/t jobs. we both love the work and the rewards. We decided to throw in together, dosome advertising and some ground pounding and hope for the best. I was tooling around on the computer one day and stumbled across some small operations for sale. we decided on the one in question because the owner wasn't trying to unload a whole bunch of beat up wore out equipment and 75% of the contracts were already signed for 2011.
God willing and the creek don't rise, the deal goes down this week. We wanted to make sure that this guy doesn't try anything on us or even his employees hence the question about the no complete clause. Everything else seems to be above board to this point. Anything you think we should be concerned about?

[Steve]

Well, I would think you might want to talk to an attorney and have them look this over.

How much are you going to spend on this? What are you going to get out of the deal? It might be well worth your time to have an attorney look it over and offer you some advise.