Define: Competing Business
What does "Competing Business" mean? The meaning differs based on the contract. We found 2 definitions across 1 company in SEC filings.
Definition 1 (Walmart Inc., seen in 1 filing)
Competing Business means any general or specialty retail, grocery, wholesale membership club or merchandising business, inclusive of its respective parent companies, subsidiaries and/or affiliates that sells goods or merchandise at retail to consumers and/or businesses (whether through physical locations, via the internet or combined) or has plans to sell goods or merchandise at retail to consumers and/or businesses (whether through physical locations, via the internet or combined) within twelve (12) months following Associate s last day of employment with Walmart in the United States and has gross annual consolidated sales volume or revenues attributable to its retail operations (whether through physical locations, via the internet or combined) equal to or in excess of U.S. $7 billion.
Source: Walmart Inc. 10-K
Definition 2 (Walmart Inc., seen in 1 filing)
Competing Business means any general or specialty retail, grocery, wholesale membership club, or merchandising business, inclusive of its respective parent companies, subsidiaries and or affiliates that (a) sells goods or merchandise at retail to consumers and or businesses (whether through physical locations, via the internet or combined) or has plans to sell goods or merchandise at retail to consumers and or businesses (whether through physical locations, via the internet or combined) within twelve (12) months following Associate s last day of employment with Walmart in the United States and (b) has gross annual consolidated sales volume or revenues attributable to its retail operations (whether through physical locations, via the internet or combined) equal to or in excess of U.S.D. $7 billion.
Source: Walmart Inc. 10-K
Data extracted from 2 SEC EDGAR filings across 1 company. Source: Material contracts (Exhibit 10) filed under Regulation S-K.
This page presents definitions found in actual SEC filings for informational purposes. The specific definition appropriate for your contract may vary based on jurisdiction, industry, and specific circumstances. Consult with a qualified attorney for legal advice.