The Non Competition Agreement Sale Of Business is a crucial document in Australian business transactions, designed to protect the purchaser's investment by preventing the seller from competing with the business being sold. This agreement is typically used when selling a business where customer relationships, trade secrets, or market position are valuable assets that need protection. It includes specific provisions about restricted activities, geographical areas, and time periods, all drafted in accordance with Australian competition law principles. The document becomes particularly important in cases where the seller has significant market knowledge, customer relationships, or industry expertise that could potentially harm the purchased business if used competitively. The agreement must be carefully drafted to ensure it is reasonable and enforceable under Australian law, with consideration given to both federal legislation (such as the Competition and Consumer Act 2010) and relevant state laws.
Non Competition Agreement Sale Of Business Template for Australia
Create a bespoke document in minutes, or upload and review your own.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Get your first 2 documents free
Your data doesn't train Genie's AI
You keep IP ownership聽of your information
Key Requirements PROMPT example:
Non Competition Agreement Sale Of Business
"I need a Non Competition Agreement Sale Of Business for selling my Sydney-based software development company, with a 3-year restraint period across New South Wales and protection for our client database and proprietary coding techniques."
1. Parties: Identification of all parties to the agreement, including the seller(s) and purchaser(s)
2. Background: Context of the agreement, including reference to the business sale and reason for the restraint
3. Definitions: Key terms used throughout the agreement, including 'Restricted Business', 'Restraint Period', 'Restraint Area'
4. Consideration: Specific reference to the consideration being provided for the restraint obligations
5. Restraint Obligations: Core non-compete and non-solicitation obligations, including cascading clauses for different time periods and geographical areas
6. Duration and Geographic Scope: Specific periods and areas where the restraint applies, typically with cascading options
7. Prohibited Activities: Detailed description of activities the seller is prevented from undertaking
8. Confidentiality Obligations: Obligations regarding confidential information and trade secrets
9. Acknowledgments: Seller's acknowledgments about reasonableness of restraints and independent legal advice
10. Remedies: Available remedies for breach, including injunctive relief and damages
11. General Provisions: Standard boilerplate clauses including governing law, severability, and entire agreement
1. Employee Non-Solicitation: Additional provisions specifically preventing solicitation of employees, used when the business has key staff members
2. Customer Non-Solicitation: Specific provisions regarding customer relationships, used when customer relationships are particularly valuable
3. Intellectual Property Protection: Additional provisions protecting IP rights, used when the business has significant IP assets
4. Assignment Rights: Provisions allowing assignment of the agreement, used when purchaser may want to on-sell the business
5. Guarantees: Personal guarantees section, used when the seller is a corporate entity
6. Training and Transition: Provisions for seller assistance in business transition, used when knowledge transfer is crucial
1. Schedule 1 - Restraint Area: Maps and detailed description of the geographical area where restraints apply
2. Schedule 2 - Restricted Business Activities: Detailed description of the specific business activities that are restricted
3. Schedule 3 - Cascading Restraint Matrix: Matrix showing different combinations of time periods and geographical areas for restraint
4. Schedule 4 - Key Customers: List of key customers covered by non-solicitation provisions (if applicable)
5. Schedule 5 - Confidential Information: Detailed description of what constitutes confidential information
6. Appendix A - Related Entities: List of related entities bound by or benefiting from the restraints
Authors
Relevant legal definitions
Clauses
Relevant Industries
Professional Services
Technology & Software
Healthcare & Medical
Retail & Consumer Goods
Manufacturing
Consulting Services
Financial Services
Construction & Engineering
Hospitality & Tourism
Education & Training
Real Estate & Property
Marketing & Advertising
Relevant Teams
Legal
Corporate Development
Mergers & Acquisitions
Executive Leadership
Commercial Operations
Business Development
Compliance
Risk Management
Corporate Governance
Strategy
Relevant Roles
Business Owner
Managing Director
Chief Executive Officer
Chief Legal Officer
Commercial Lawyer
Business Development Manager
Mergers & Acquisitions Manager
Corporate Counsel
Legal Counsel
Company Secretary
Business Broker
Commercial Director
Operations Manager
General Manager
Franchise Manager
Find the exact document you need
Deed Of Non Competition
An Australian law-governed deed that establishes enforceable non-competition obligations between parties, including geographic and time-based restrictions on competitive activities.
find out more
Non Compete Agreement For Existing Employees
An Australian-law governed agreement that restricts existing employees from engaging in competitive activities during and after their employment, while ensuring compliance with local employment and competition laws.
find out more
Waiving Non Compete Agreement
An Australian law-compliant agreement that releases an employee from existing non-compete obligations while maintaining other relevant contractual terms.
find out more
Non Compete Agreement Buying A Business
An Australian-compliant Non-Compete Agreement protecting buyer's interests when purchasing a business, including territorial and temporal restrictions on the seller's competitive activities.
find out more
5 Year Non Compete Agreement
An Australian-law governed 5-year non-compete agreement establishing restrictions on competitive activities and protecting business interests.
find out more
Non Solicitation Agreement Form
An Australian legal document that prevents the solicitation of employees, clients, or suppliers, drafted in compliance with Australian competition and employment laws.
find out more
Consulting Non Compete Agreement
An Australian-compliant agreement establishing non-compete obligations for consultants, protecting business interests while ensuring legal enforceability.
find out more
Small Business Non Compete Agreement
An Australian-compliant non-compete agreement for small businesses, setting out reasonable restrictions on competitive activities while ensuring legal compliance.
find out more
Non Compete Agreement After Resignation
An Australian-compliant agreement restricting former employees' competitive activities post-resignation, with enforceable terms under Australian law.
find out more
Non Compete Letter To New Employer
An Australian jurisdiction letter notifying a new employer of an incoming employee's existing non-compete obligations and requesting cooperation in maintaining compliance.
find out more
Salon Non Compete Agreement
An Australian legal agreement restricting former salon staff from competing activities, protecting the salon's business interests while complying with Australian law.
find out more
Real Estate Non Compete Agreement
An Australian-law governed agreement restricting competitive activities in the real estate sector within specified geographical areas and time periods.
find out more
Non Compete Sales Agreement
An Australian legal agreement restricting sales-related competition between parties, subject to federal and state competition laws.
find out more
Non Compete Letter
An Australian-compliant document establishing reasonable post-employment competitive restrictions, outlining specific limitations on future business activities while protecting legitimate business interests.
find out more
International Non Compete Agreement
An Australian law-governed International Non-Compete Agreement establishing cross-border competitive activity restrictions while ensuring compliance with relevant legal frameworks.
find out more
Non Compete In Severance Agreement
An Australian law-governed agreement combining severance terms with non-compete provisions, protecting employer interests while providing employee compensation.
find out more
Non Compete Agreement For Sales Representative
An Australian-compliant non-compete agreement designed to protect business interests by restricting sales representatives' post-employment competitive activities.
find out more
Agreement Not To Work For Competitor
An Australian law-compliant agreement that restricts an employee from working with competitors for a specified period post-employment.
find out more
Non Competition Agreement Sale Of Business
An Australian legal agreement that prevents a business seller from competing with the sold business, including restrictions on competition, solicitation, and use of confidential information.
find out more
Letter Of Non Solicitation
An Australian-law governed document that prevents the solicitation of employees, clients, or business relationships between parties for a specified period and scope.
find out more
Non Compete Shareholders Agreement
An Australian shareholders agreement incorporating non-compete provisions and restrictive covenants, designed to protect company interests while ensuring compliance with Australian law.
find out more
Non Compete Agreement Insurance Agent
An Australian-compliant Non-Compete Agreement for insurance agents that protects business interests while meeting legal requirements.
find out more
Non Compete Contract
An Australian-law governed agreement restricting competitive activities within specified time and geographic boundaries, subject to reasonable restraint principles under Australian law.
find out more
Download our whitepaper on the future of AI in Legal
By providing your email address you are consenting to our Privacy Notice.
骋别苍颈别鈥檚 Security Promise
Genie is the safest place to draft. Here鈥檚 how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; 骋别苍颈别鈥檚 AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
Our bank-grade security infrastructure undergoes regular external audits
We are ISO27001 certified, so your data is secure
Organizational security
You retain IP ownership of your documents
You have full control over your data and who gets to see it
Innovation in privacy:
Genie partnered with the Computational Privacy Department at Imperial College London
Together, we ran a 拢1 million research project on privacy and anonymity in legal contracts
Want to know more?
Visit our for more details and real-time security updates.
Read our Privacy Policy.