The Non Compete Shareholders Agreement is a crucial document for companies operating under Danish jurisdiction seeking to protect their business interests and maintain competitive advantage. This agreement is typically implemented when companies have multiple shareholders who have access to sensitive business information or could potentially compete with the company. The document combines elements of Danish corporate law, competition law, and contract law to create binding non-compete obligations while ensuring compliance with local regulations. It's particularly important for companies with employee-shareholders, international operations, or in sectors with high intellectual property value. The agreement includes detailed provisions on restricted activities, geographical limitations, and duration of non-compete obligations, all structured within the framework of Danish legal requirements.
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Key Requirements PROMPT example:
Non Compete Shareholders Agreement
Need a Non Compete Shareholders Agreement for a Danish tech startup with 5 founding shareholders, where 3 are active employees, including specific protection for our AI technology and international operations across Scandinavia, effective March 2025.
1. Parties: Identification of all shareholders and the company, including registration numbers and addresses
2. Background: Context of the agreement, including company structure and purpose of the non-compete arrangements
3. Definitions: Key terms used throughout the agreement, including 'Competitive Business', 'Confidential Information', and 'Territory'
4. Scope and Duration: Temporal and geographical scope of the non-compete obligations
5. Non-Compete Obligations: Detailed restrictions on competitive activities, including specific prohibited actions
6. Confidentiality Obligations: Protection of company information and trade secrets
7. Transfer of Shares: Rules and restrictions regarding the transfer of shares, including right of first refusal
8. Enforcement and Penalties: Consequences of breach and enforcement mechanisms
9. Termination: Circumstances under which the agreement can be terminated and consequences
10. Governing Law and Jurisdiction: Confirmation of Danish law application and jurisdiction for disputes
11. Signatures: Execution blocks for all parties
1. Tag-Along Rights: Rights of minority shareholders to join in sale of shares by majority shareholders
2. Drag-Along Rights: Rights of majority shareholders to force minority shareholders to join in sale
3. Employee-Shareholder Provisions: Special provisions for shareholders who are also employees
4. Non-Solicitation: Additional restrictions on soliciting employees, customers, or suppliers
5. Dispute Resolution: Alternative dispute resolution procedures like mediation before litigation
6. Garden Leave: Provisions for paid leave during notice period to protect business interests
7. Severability: Provisions ensuring rest of agreement remains valid if parts are found unenforceable
1. Schedule 1 - Shareholder Details: Complete list of shareholders with their shareholding percentages and classes of shares
2. Schedule 2 - Restricted Territory: Detailed definition of geographical areas covered by non-compete restrictions
3. Schedule 3 - Competitive Business Definition: Detailed description of business activities considered competitive
4. Schedule 4 - Share Transfer Procedures: Detailed procedures for implementing share transfers
5. Schedule 5 - Confidential Information: Detailed list of information types considered confidential
6. Appendix A - Company Information: Current company details including business areas and market position
7. Appendix B - Calculation of Penalties: Formula and methods for calculating penalties for breach
Authors
Relevant legal definitions
Agreement
Affiliate
Board
Business
Business Day
Company
Competitive Business
Confidential Information
Control
Effective Date
Encumbrance
Group
Intellectual Property Rights
Material Interest
Non-Compete Period
Parties
Permitted Transfer
Restricted Business
Restricted Period
Restricted Territory
Shares
Shareholder
Subsidiary
Territory
Trade Secrets
Transfer
Competing Activities
Connected Person
Corporate Opportunity
Danish Business Day
Direct Competitor
Exit Event
Fair Market Value
Good Leaver
Bad Leaver
Indirect Interest
Market Area
Material Customer
Material Supplier
Minority Interest
Original Shareholders
Permitted Activities
Privileged Information
Professional Advisers
Relevant Interest
Reserved Matters
Share Capital
Strategic Information
Termination Date
Voting Rights
Affiliate
Board
Business
Business Day
Company
Competitive Business
Confidential Information
Control
Effective Date
Encumbrance
Group
Intellectual Property Rights
Material Interest
Non-Compete Period
Parties
Permitted Transfer
Restricted Business
Restricted Period
Restricted Territory
Shares
Shareholder
Subsidiary
Territory
Trade Secrets
Transfer
Competing Activities
Connected Person
Corporate Opportunity
Danish Business Day
Direct Competitor
Exit Event
Fair Market Value
Good Leaver
Bad Leaver
Indirect Interest
Market Area
Material Customer
Material Supplier
Minority Interest
Original Shareholders
Permitted Activities
Privileged Information
Professional Advisers
Relevant Interest
Reserved Matters
Share Capital
Strategic Information
Termination Date
Voting Rights
Clauses
Interpretation
Definitions
Non-Competition
Non-Solicitation
Confidentiality
Share Transfer Restrictions
Right of First Refusal
Tag-Along Rights
Drag-Along Rights
Share Valuation
Voting Rights
Board Representation
Reserved Matters
Information Rights
Dividend Policy
Exit Provisions
Duration and Territory
Breach and Remedies
Enforcement
Penalties
Warranties
Assignment
Severability
Amendment
Notices
Governing Law
Dispute Resolution
Entire Agreement
Good Faith
Force Majeure
Definitions
Non-Competition
Non-Solicitation
Confidentiality
Share Transfer Restrictions
Right of First Refusal
Tag-Along Rights
Drag-Along Rights
Share Valuation
Voting Rights
Board Representation
Reserved Matters
Information Rights
Dividend Policy
Exit Provisions
Duration and Territory
Breach and Remedies
Enforcement
Penalties
Warranties
Assignment
Severability
Amendment
Notices
Governing Law
Dispute Resolution
Entire Agreement
Good Faith
Force Majeure
Relevant Industries
Technology
Professional Services
Manufacturing
Biotechnology
Financial Services
Consulting
Healthcare
Software Development
Research and Development
Retail
E-commerce
Industrial Services
Relevant Teams
Legal
Corporate Governance
Executive Leadership
Board of Directors
Compliance
Finance
Corporate Affairs
Investor Relations
Risk Management
Business Development
Relevant Roles
Chief Executive Officer
Chief Legal Officer
Corporate Lawyer
Legal Counsel
Company Secretary
Chief Financial Officer
Board Member
Managing Director
Business Development Director
Head of Compliance
Investment Manager
Corporate Governance Officer
Shareholder Relations Manager
General Counsel
Partner
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