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Competition › Delaware

Mayer Brown

Delaware Law Alert: The Delaware Supreme Court Further Validates Forfeiture-for-Competition Provisions—What It Means for M&A Deals

Mayer Brown on

In a notable holding, the Delaware Supreme Court has confirmed that forfeiture-for-competition provisions generally are not subject to reasonableness review, greatly enhancing the likelihood of their enforceability. LKQ...more

Sheppard Mullin Richter & Hampton LLP

Delaware Supreme Court Enforces Forfeiture for Competition Provision in Partnership Agreement

Sheppard Mullin Richter & Hampton LLP on

In Cantor Fitzgerald, L.P. v. Ainslie, No. 162, 2023, 2024 WL 315193 (Del. Jan. 29, 2024), the Delaware Supreme Court held enforceable a “forfeiture for competition” provision in a limited partnership agreement, upholding...more

Skadden, Arps, Slate, Meagher & Flom LLP

Ruling: Forfeiture-for-Competition Provisions in Delaware Partnership Agreements Are Not Subject to a Reasonableness Review

Skadden, Arps, Slate, Meagher & Flom LLP on

On January 29, 2024, in Cantor Fitzgerald, L.P. v. Ainslie, the Delaware Supreme Court reversed a decision of the Delaware Court of Chancery holding that a forfeiture-for-competition provision in a partnership agreement was a...more

Morrison & Foerster LLP

Trio of Delaware Cases Signal Stricter Review of Sale-of-Business Non-Competes

Morrison & Foerster LLP on

On March 16, 2023, the Delaware Chancery Court in Intertek Testing Services NA, Inc. v. Eastman found a sale-of-business non-compete was overbroad, given its worldwide geographic scope, and refused to modify it to make it...more

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