Non-compete agreements have been a troublesome item to understand for many people. However they are relatively straightforward.<\/p>\n
A great many people don\u2019t truly understand the ramifications of a non-compete agreement, but if caught in a situation where the issue raises its head, they usually get the drift fairly quickly. It all boils down to the basic fact that a person selling a business agrees not to compete or participate with the buyer of that business in the same niche, area, industry or market for a certain period of time.<\/p>\n
The long and short of it is this agreement is alternatively referred to as a covenant not to compete or a non-compete agreement. This document, provided it meets certain conditions, may be defined as an acquired intangible asset accruing to the buyer. Be aware that this means it will be subject to cost recovery requirements from the IRS.<\/p>\n
These agreements are far more common than (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Non-compete agreements have been a troublesome item to understand for many people. However they are relatively straightforward. A great many people don\u2019t truly understand the ramifications of a non-compete agreement, but if caught in a situation where the issue raises…<\/span><\/p>\n