What are some best practices Purchase Agreement Non-Compete Clauses

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by a searcher from Kansas State University
in Kennett Square, PA 19348, USA

2yrs ago

What are some best practices Purchase Agreement Non-Compete Clauses

I am in the midst of an Acquisition (Asset Purchase) of a Technology company. I am using SBA 7a financing (10 year loan). What are some best practices to determine the duration and terms of the Non-Compete?

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reply by a professional 2yrs ago
from University of Minnesota in Minneapolis, MN, USA

Generally speaking, I don't think this should be a big sticking point on most deals. I think market terms are about 5 years, and your lawyer should be able to get you language that balances specificity and broad protection for you. If Seller pushes back, it's time to start asking questions about why.