Typical Non-Compete

November 25, 2020
by a searcher from Columbia University - Columbia Business School in Princeton, NJ, USA
I am in the process of finalizing LOI and the owner asked how long is the non-compete. Is there a general rule of thumb for the length of time? Is it a red flag the owner asked? He is in his early 50s. The current terms are that the owner has a 12 month transition period with a non compete thereafter. Any guidance is much appreciated. Deal is $1.5M
from Southern Methodist University in Houston, TX, USA
from London Metropolitan University in Kuala Lumpur, Federal Territory of Kuala Lumpur, Malaysia