Buy/Sell

Illinois lawyer Kenneth Vanko provides the most comprehensive analysis of U.S. non-compete cases that I’ve seen in the legal blog world.  His latest case analysis addresses a non-compete in the context of the sale of a veterinary practice. 

In Texas, even in the sale of a business, a non-compete agreement must satisfy the requirements of Texas Business and Commerce Code Section 15.50: 

a covenant not to compete is enforceable if it is ancillary to or part of an otherwise enforceable agreement at the time the agreement is made to the extent that it contains limitations as to time, geographical area, and scope of activity to be restrained that are reasonable and do not impose a greater restraint than is necessary to protect the goodwill or business interests of the promisee.

Make sure any buy/sell agreement complies with 15.50.

Happy Thanksgiving!