Just Elementary, Inc. » Entries tagged with "Covenant Not To Compete"
Non Compete Covenants in the Sale of a Business
During the course of negotiating a purchase and sale contract for a business, Non-Compete Covenants need to be addressed. Just for reference, Non-Compete Covenants are also referred to as Covenants Not To Compete. Let’s get down to it. What is a Non-Compete Covenant? In the case of the sale of a business, it is contractual covenant that dictates that the selling party will not compete against the buying party by opening or partnering in a competitive business. … Read entire article »
Filed under: Due Diligence, Selling A Business
Purchase Price Asset Allocation
In buying or selling any business, franchise or not, both the buyer and seller have to agree upon an Purchase Price Asset Allocation. What exactly is a Purchase Price Allocation? When buying a business as an Asset Sale transaction, the purchase price needs to be divvied up and allocated to all of the assets being transferred from the seller and buyer. Examples of Assets that need to be allocated: Franchise Agreement (intangible) Goodwill (intangible) Customer List (intangible) Covenant Not to Compete (intangible) Trade … Read entire article »
Filed under: Franchises
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