Court holds that Oklahoma does not permit a buyer to hold the owner of the selling company responsible under a noncompete for the competitive actions of her grandson (a non-owner of the company). M&A Stories March 23, 2023 Introduction In…
Blog Archives
NONCOMPETE PAYMENTS IN M&A DEALS: BUYER OBLIGATIONS EVEN AFTER SELLER’S DEATH
Learn about the recent ruling by the Alabama Supreme Court on noncompete payments in M&A deals after the death of the seller. Discover the importance of clear terms in noncompete agreements to avoid disputes. M&A Stories May 12, 2021 Introduction:…
Posted in covenant not to compete, death of seller's impact upon noncompetition payments Tagged with: Alabama Supreme Court, Boyd v. Mills, Buyer Obligations, death of seller, goodwill protection, legal battle, M&A, Mergers and Acquisitions, noncompete agreement, noncompete payments, personal service contracts, seller's death
M&A Confidentiality: Protecting Valuable Customer Data
Learn about the importance of safeguarding confidential information in M&A deals and the legal battles that can arise when confidentiality agreements are breached. M&A Stories May 9, 2019 Introduction: In the world of business acquisitions, safeguarding confidential information is paramount.…
Posted in covenant not to compete, public information exclusion Tagged with: Bobcat North America, Business acquisitions, case reference, Competitive Activities, Confidentiality, Confidentiality covenant, Customer Data, Inland Waste Holdings, Lawsuit, Legal battles, M&A, noncompetition covenant, public information exception, Purchase agreement
Court Restricts Company Seller’s Nationwide Noncompete to 3 States
Introduction The sale of a company usually comes with its goodwill. In fact, in many cases goodwill is the crown jewel of the business. The last thing a buyer wants, is to pay top dollar for the business only to…
Posted in boilerplate provisions, California, choice of law provision, Delaware, noncompete area, reformation Tagged with: California noncompetes, choice of law provision, noncompete area
Court concludes that seller of business did not breach implied obligation to not solicit former customers
Seller develops, markets, and sells a variety of over-the-counter and prescription medications. Seller’s Owner owns Seller and is Seller’s CEO, president and secretary. Buyer entered into the asset purchase agreement with Seller. Pursuant to the asset purchase agreement, Buyer paid approximately…
Employer breach of employment agreement results in no enforcement of employee non-compete
Employee began his career in physical therapy in 1994. He worked as an independent contractor until joining Target as an employee in 2008 to manage a number of physical therapy clinics in southern Delaware. In 2008, Employee and Target executed the…
Allegations were enough, if true to establish that business sellers breached their noncompetition, nonsolicitation and confidentiality covenants
Buyer is a full-service specialty contract manufacturer of automotive, household, insecticide, and pesticide aerosols, based in St. Clair, Missouri, about 50 miles southwest of St Louis. Target is a specialty chemical contract packager, which manufactures aerosols, liquids, and bag-on-valve products,…
Buyer did not terminate employment agreements with owners of selling accounting firm for cause
In November 2014, Buyer, an accounting firm in Plymouth, Indiana (about 27 miles south of South Bend, Indiana) acquired Seller, an accounting firm in South Bend, through an asset purchase agreement. At the closing Buyer entered into employment agreements with…
Court says buyer of assets of business can enforce noncompetition agreement seller had with former employee
Seller, based in Billerica, Massachusetts (20 miles NNW of Boston) manufactured computer peripheral equipment. Former Seller Employee started working at Seller in 1982. He was promoted several times over the course of his employment, eventually becoming program manager in the…
Recent Comments