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   Non Compete Agreement
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wyatt
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Non Compete Agreement
« on: Oct 30th, 2007, 8:39pm »
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Im a small VENDOR company (3 people company). The CUSTOMER company is asking me to sign this non-compete agreement to support some  products in return for a monthly fee. My company will only be supporting a couple of their products that we are already familiar with. The rest we have no knowledge of.
 
Can anyone decipher this? Is it enforceable?
 
Thanks
 
NON-COMPETE AGREEMENT
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As an inducement for the CUSTOMER to enter into this agreement, during the period commencing on the date of this agreement and ending on the second anniversary of the termination of this agreement, neither VENDOR nor any shareholders of VENDOR as a proprietor, principal, agent, partner, officer, director, shareholder, employee, member of any association, consultant or otherwise will, directly or indirectly, engage in, acquire, own or hold a business in any geographic area in which the Company conducts business as of the date of this agreement that competes with the Business of CUSTOMER  as conducted on the date of this agreement.  Business means the business of providing telecommunications software solutions, support and services to the healthcare, hospitality, education, and public safety industries, and enhanced 911 and mass notification software solutions, support and services, and call accounting software solutions, support and services. Business also means products under development, announced products or any products competitive with CUSTOMER’s pending products that have not yet been announced but which CUSTOMER has, or should have, actual or constructive knowledge.
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wyatt
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Posts: 4
Re: Non Compete Agreement
« Reply #1 on: Oct 31st, 2007, 6:39am »
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This is question is to help with the crux of my concern:
Are shareholders personally liable in case of a dispute?
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