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Home Q&A Forum Are non-competes part of a business purchase agreement?

Business Contracts

Business Purchase Agreement

Georgia

Asked on Oct 18, 2023

Are non-competes part of a business purchase agreement?

I am in the process of purchasing a business and need to know if a non-compete agreement is part of the purchase agreement. I understand that the non-compete agreement will help to protect my business from competition but I am not sure if this is included in the purchase agreement. I also need to know the implications of including a non-compete agreement in the purchase agreement.

1 Attorney answer

Answer

Business Contracts

Georgia

Answered 271 days ago

Bobby H.

ContractsCounsel verified

Business Lawyer
Licensed in Georgia
Free Consultation

Many purchase agreements do include non-competes, which are typically geographically limited and limited in terms of duration. The implication for the seller is straight forward. As a practial matter, the buyer benefits from a non-compete because it limits competion from the seller for business within the community in which the buyer will operate following the purchase of the business, or competition from the seller over the same potential customers, which aids profitability.

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