| Restrictive Covenants |
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If you are buying a business or about to employ a key player (maybe the person selling to you) in your own business it’s terribly easy to close focus on the positives and short term. One of the biggest assets you will have in either context is the goodwill an connections with your client or customer (and perhaps supplier) base. Sensible then to think about and provide for the ‘what if’ scenarios. In this context that means ‘what if my seller or employee crawls all over my clients or customers after I have handed over the money or they leave? If you’re selling you may well fully accept the reasonableness of not attempting to claw back the real underlying value in what you have just been paid handsomely for and have no intention of doing so. However within reason you may nevertheless still want to be able to work in the same industry or market sector without having your right to do so unreasonably challenged. In either scenario you need to speak to our commercial team. They can ensure you buy and employ (or sell and are re-employed) on the right terms –not just the other parties! |