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    kaylaplamondon's Avatar
    kaylaplamondon Posts: 2, Reputation: 1
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    #1

    Mar 5, 2007, 07:04 PM
    What name of business clause is this
    What is the name of a clause that you agree to when you sell a practice to another and you are unable to do this practice again in the same province for 7 years? What are the rules of this particular clause?
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #2

    Mar 5, 2007, 07:14 PM
    Hello kay:

    In the US, we call it a non compete agreement. However here, a 7 year prohibition would be found to be restraint of trade, and wouldn't be upheld. You can set your own conditions as long as they're fair. I would guess the law is the same in your province.

    excon
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Mar 5, 2007, 07:30 PM
    I wlll agree, here it is a non-compete agreement.

    But often at least in the US most agreements get over turned on various reason when taken to court. If and when doing one, ( from either side buyer or seller) you should each discuss this in detail with an attorney to see what the court rulings in our area have been.
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