How a Business Hired a Lawyer to Draft a Business Purchase Agreement in Illinois (2024)

Please post this as a project attorneys can bid on. It would be hard to give you a generalized answer without knowing the details and trying to piecemeal it can do more harm than good. But I would definitely think about what is being sold/when/ how. How is the payments made? What IP is included, when does ownership transfers, is there financing, are there any licenses required, any documents that need to be executed, any inspections, due diligence etc

A non-compete clause is potentially enforceable in this situation. 1. It must be part of an otherwise enforceable agreement. 2. It cannot impose a restriction longer than 2 years 3. It must be reasonable in geographic scope Without reviewing the Business Purchase Agreement and your proposed non-compete clause, I cannot comment on the validity of your proposed non-compete. However, if you would like me to review the Agreement and/or provide assistance in negotiating the agreement, please let me know. Lorraine Coats, Esq.