There are many other items that can be included in buy-sell agreements.
Non-compete provisions are often added to these types of agreements if they aren’t included in the shareholder agreement. You wouldn’t want this type of provision in both places and it depends on where you put this agreement in terms of enforceability. You may be able to get a better non-compete clause in a sale of shares setting then you could get in an employment setting. Scope, duration and enforceability all play a part of the decision making. Non-solicitation, confidentiality, voting/control and exit provisions are also reviewed in this video.
Mark R. High
Dickinson Wright PLLC
- Member with Dickinson Wright PLLC in Detroit, Michigan
- Concentrates in the areas of business law, corporate finance, corporate governance, and international transactions
- President of the Canada-U.S. Business Association in SE Michigan/SW Ontario; former chair of Michigan Business Law Section
- Conducts seminars on and writes articles dealing with buy-sell agreements for the ABA, State Bar of Michigan, trade associations, and commercial services
- J.D. degree, Duke University; B.A. degree, The College of Wooster
- Can be contacted at 313-223-3650 or [email protected]
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