JoAnn Lombardi – Restriction Clauses When Selling A Business

When to Apply Restrictions and Prohibitions in the Business Deal

By JoAnn Lombardi, President VR Business Brokers

It’s important for both Buyer and Seller to protect themselves by including the proper terms and conditions in the Business Sale Agreement.

The fact is the buyer is going to have concerns about the seller possibly taking away the goodwill that they’ve created.

The seller will want to know what activities that they will be able to engage in without the threat of legal action.

There are also important factors to understand and cover in the agreement such as “Competition” versus “Solicitation”

Other important points include Express Provisions in the Sales Contract  and Course of Action.

Read the full article here  When to Apply Restrictions and Prohibitions in the Business Deal

 

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