Customer List – Example 1: A salesman worked for an insurance company selling credit life insurance to automobile dealers. When he switched jobs to work for a competing insurance company he took his customer list and contacted the customers at his new job. The contract also states that no member can sell their portion to a third-party without consent from the other members. Sale option to satisfy deadlockIf a member cannot come to an agreement during the term of the contract and reach deadlock, a sales option is included in the contract. This agreement basically states that the other member can choose to buy the other's portion of the venture. If you are considering a joint venture with another company, it is always a good idea to talk to a lawyer as part of your process. Either Party shall have the right to terminate this Agreement, effective as of the end of the Initial Term or any Renewal Term, by providing the other with written notice of termination at least thirty (30) days prior to the end of such Initial Term or Renewal Term. Neither Party shall have the right to terminate this Agreement at any other time, unless such termination is mutually agreed to by the Parties hereto. These legal exceptions exist with or without an agreement, but they are commonly included in a contract to make it clear to everyone that such information is not considered a trade secret.