A Partnership Non-Compete Agreement helps maintain the integrity and trust you’ve built within your business partnership by setting clear boundaries post-separation. Whether you're entering into a partnership or preparing for its conclusion, this agreement offers essential protection.
What’s Inside:
- Purpose & Clarity – Clearly define why the non-compete matters and the risks it mitigates, such as protecting trade secrets, customer relationships, and goodwill.
- Non-Compete Commitment – Specify the duration (e.g., 12–24 months), geographic scope (e.g., within a state or radius), and type of competitive activity that is restricted.
- Confidentiality Overlay – Reinforce that confidential business information remains restricted—even beyond the end of the partnership.
- Reasonable Limitations – Include fair exceptions (e.g., passive investments, unrelated pursuits, consent-approved activities).
- Remedies & Enforcement – Explain what can happen if the agreement is breached: injunctive relief, monetary damages, and legal recourse.
- Governing Law & Amendments – Detail which jurisdiction applies and the process for making future changes.
Why This Template Works:
- Balanced Protection – Designed to be enforceable and fair, protecting both the business and the departing partner.
- Easy Customization – Word-formatted with built-in placeholders for partners, dates, scope, and durations—just fill in your specifics.
- Professional Tone – Clear, concise, and legally robust language suitable for serious business use.
- Guided Structure – Room for all critical clauses while preserving simplicity and ease of use.
How to Use This Template
- Download the Template: Click the download button to get the template in your preferred format.
- Customize the Document: Fill in the placeholders with your partnership details, including names, addresses, and specific terms.
- Review and Edit: Ensure all information is accurate and that the terms reflect your mutual understanding.
- Seek Legal Advice: Consult with a legal professional to ensure the agreement complies with local laws and adequately protects your interests.
- Sign the Agreement: All partners should sign and date the agreement to make it legally binding.
