Business-to-Business Non-Compete Agreements are crucial documents used when companies need to protect their legitimate business interests during commercial relationships. These agreements, governed by Singapore law, are commonly implemented during business sales, strategic partnerships, or when engaging service providers with access to sensitive information. The document outlines specific restrictions on competitive activities, including geographic scope, duration, and prohibited activities, ensuring compliance with Singapore's Competition Act and restraint of trade principles. The agreement must be carefully drafted to balance commercial interests with legal enforceability.
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Key Requirements PROMPT example:
Non Compete Agreement Business To Business
"I need a Business-to-Business Non-Compete Agreement to restrict a software development company from competing with our business in Singapore and Malaysia for 24 months after our joint venture ends in March 2025."
1. Parties: Identification of the contracting businesses, including registered addresses and company numbers
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used tHRoughout the agreement
4. Scope of Non-Compete: Detailed description of prohibited activities and business areas
5. Duration: Time period for which restrictions apply
6. Geographic Limitations: Territorial scope of the restrictions
7. Consideration: Value exchanged for the non-compete obligations
8. Remedies for Breach: Consequences and available remedies if agreement is violated
9. Governing Law: Specification of Singapore law as governing law
1. Confidentiality: Additional provisions for protection of confidential information when parties will exchange sensitive information
2. Non-Solicitation: Additional restrictions on approaching employees or customers when protecting these relationships is crucial
3. Assignment: Provisions regarding rights to transfer obligations to other parties when such transfers might be necessary
4. Dispute Resolution: Specific process for resolving disagreements tHRough arbitration or mediation
1. Schedule 1 - Restricted Business Activities: Detailed list of specific activities covered by non-compete
2. Schedule 2 - Restricted Territory: Detailed description or maps of geographic restrictions
3. Schedule 3 - Consideration Details: Breakdown of compensation or consideration structure
4. Schedule 4 - Related Companies: List of affiliated companies covered by the agreement
Authors
Relevant legal definitions
Affiliate
Business Day
Commencement Date
Competing Business
Confidential Information
Consideration
Effective Date
Group
Intellectual Property Rights
Non-Compete Period
Protected Business
Restricted Activities
Restricted Territory
Related Corporation
Subsidiary
Term
Territory
Trade Secrets
Working Hours
Associated Company
Business Day
Commencement Date
Competing Business
Confidential Information
Consideration
Effective Date
Group
Intellectual Property Rights
Non-Compete Period
Protected Business
Restricted Activities
Restricted Territory
Related Corporation
Subsidiary
Term
Territory
Trade Secrets
Working Hours
Associated Company
Clauses
Interpretation
Non-Competition
Territorial Restrictions
Duration
Consideration
Confidentiality
Non-Solicitation
Non-Dealing
Acknowledgments
Independent Contractors
Severability
Assignment
Variation
Entire Agreement
Force Majeure
Notices
Governing Law
Dispute Resolution
Third Party Rights
Costs
Termination
Remedies
Warranties and Representations
Indemnification
Non-Competition
Territorial Restrictions
Duration
Consideration
Confidentiality
Non-Solicitation
Non-Dealing
Acknowledgments
Independent Contractors
Severability
Assignment
Variation
Entire Agreement
Force Majeure
Notices
Governing Law
Dispute Resolution
Third Party Rights
Costs
Termination
Remedies
Warranties and Representations
Indemnification
Relevant Industries
Relevant Teams
Relevant Roles
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