Review Business Purchase Agreement in California for Business (2024)
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Business Purchase Agreement
California
Business
Business
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Business Purchase Agreement
Georgia
Can I include a non-compete clause in a Business Purchase Agreement?
I am in the process of purchasing a small business and I am concerned about the seller potentially opening a competing business nearby and taking away my customers. I want to know if it is legally possible to include a non-compete clause in the Business Purchase Agreement to prevent the seller from engaging in similar business activities within a certain geographic area for a specific period of time after the sale is completed.
Lorraine C.
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.
Business Purchase Agreement
North Carolina
Does a business purchase agreement need notarization?
I am in the process of purchasing a business and I have been presented with a business purchase agreement. I want to make sure that I am making the right decision and that all documents are properly documented. I understand that some legal documents may require notarization and I wanted to confirm if a business purchase agreement requires notarization.
N'kia N.
North Carolina does not require business purchase agreements to be notarized. However, some documents related to the business purchase deal might require notarization. For example, any deeds needed for the deal will likely have to be notarized. Some business purchase deals are pretty simple, while others can be rather complex. In many situations, it is ideal for each party to have at least one attorney representing them in the negotiations and preparing the necessary documents. If you have questions or concerns about a business purchase agreement, you might consider consulting with a knowledgeable corporate attorney. Good luck!