Startup Terms Glossary
What is a No Shop Clause?
When a buyer and a seller of a company are in negotiations, a no-shop clause prohibits the seller from engaging in any conversation with other interests in acquiring the company until a deal is met or walked away from. This clause takes affect when a buyer sends letter of intent or agreement to the seller.
No Shop Clause Examples
Examples of no shop clause considerations include:
- Example 1. Prohibits sellers from engaging with other potential buyers
- Example 2. Prohibits release of information regarding negotiations
- Example 3. Requires sellers to disclose unsolicited offers
Learn about a no shop clause by checking out this page .
ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.
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