Outside Ventures Sample Clauses
The Outside Ventures clause defines the rights and limitations regarding a party's involvement in business activities outside the scope of the current agreement or organization. Typically, this clause clarifies whether individuals, such as employees or founders, are permitted to engage in other business ventures, and under what conditions such activities are allowed—such as requiring disclosure or ensuring no conflict of interest with the primary business. Its core function is to prevent conflicts of interest and protect the primary business's interests while providing clear boundaries for permissible outside activities.
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Outside Ventures. Except as otherwise expressly provided in Section 5.4(c), nothing in this Agreement shall be deemed to restrict in any way the rights of any Member to conduct any other business or activity whatsoever, and the Member shall not be accountable to the Company or to any Member with respect to that business or activity even if the business or activity competes with the Company's business. The organization of the Company shall be without prejudice to the respective rights of the Members to maintain, expand, or diversify such other interests and activities and to receive and enjoy profits or compensation therefrom. Each Member waives any rights the Member might otherwise have to share or participate in such other interests or activities of any other Member.
Outside Ventures. Owner expressly acknowledges and agrees that Manager may engage in or possess an interest in any other business venture of any type and description, independently or with others, including without limitation, ventures involving the development of concepts for and/or management and operation of restaurants (whether or not the same may be competitive with the Restaurants) and that its engagement in any possession of such interests in any such venture are expressly permitted under this Agreement.
Outside Ventures. The General Partner and other Partners may engage in or possess an interest in any other business venture of any type or description, independently or with others (including, without limitation, any venture which may be competitive with the business being conducted by the Partnership), and neither the Partnership nor any Partner will, by virtue of this Agreement, have any right, title or interest in or to such outside venture or the income or other benefits derived therefrom.