The Non Compete Non Solicitation Agreement is a crucial business protection document used in Singapore when companies need to safeguard their legitimate interests, including client relationships, confidential information, and key employee connections. This agreement typically follows employment termination or business sale, establishing clear restrictions on competitive activities and solicitation of employees or customers. Under Singapore law, such agreements must be carefully drafted to ensure enforceability, with reasonable limitations on duration, geography, and scope. The document should align with Singapore's restraint of trade doctrine and recent case law developments.
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Key Requirements PROMPT example:
Non Compete Non Solicitation Agreement
"I need a Non Compete Non Solicitation Agreement for a senior software developer in Singapore who will be leaving our fintech company in March 2025, with restrictions covering Southeast Asia and a duration of 12 months, particularly focusing on protecting our proprietary trading algorithms and client relationships."
1. Parties: Identification of all parties to the agreement, including full legal names and addresses
2. Background: Context of the agreement, including the employment relationship and reason for the restrictions
3. Definitions: Key terms used tHRoughout the agreement, including 'Restricted Business', 'Territory', 'Confidential Information', etc.
4. Non-Compete Obligations: Specific restrictions on competing activities, including duration and geographical scope
5. Non-Solicitation Obligations: Restrictions on soliciting employees, customers, and business partners
6. Duration: Time period for which the restrictions apply
7. Geographic Scope: Territorial limitations of the restrictions
8. Governing Law: Specification of Singapore law as governing law
1. Garden Leave: Terms regarding paid leave during notice period - used when employment agreement includes garden leave provisions
2. Consideration: Details of additional compensation for these restrictions - used when specific consideration is being provided for the restrictions
3. Severability: Provisions for partial enforcement if certain terms are found invalid - used when agreement contains multiple separate restrictions
4. Remedies: Specific remedies for breach, including injunctive relief - used when specific enforcement mechanisms are desired
1. Schedule 1 - Restricted Territory: Detailed map or list of geographical areas covered by restrictions
2. Schedule 2 - Restricted Customers: List of specific customers covered by non-solicitation provisions
3. Schedule 3 - Restricted Business: Detailed description of business activities covered by restrictions
4. Appendix A - Consideration Details: Breakdown of any financial compensation provided for the restrictions
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