Selling Your Business? You May Need to Negotiate a Non-Compete Agreement | SBA.gov

Non-compete agreements are commonplace in the workplace, particularly in specialist industries. However, their enforceability varies from state-to-state. California, for example, prohibits them entirely.

But non-competes can also come into play when you sell your business, particularly if you have plans to stay in the same industry. These agreements protect the new business owner against you opening a similar business for a certain amount of time, usually in the same geographic area.

So what’s a serial entrepreneur to do? If you have a passion for your business and plan to stay in the same industry but your buyer insists on a non-compete, what are your options?

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Selling Your Business? You May Need to Negotiate a Non-Compete Agreement | SBA.gov:

For additional information regarding Florida business sales, acquisitions and valuations, please contact Eric J. Gall at info@buysellflbiz.com or 239.738.6227. Also, visit our Florida Business Exchange website at www.fbxbrokers.com and my personal website at www.buysellflbiz.com.