Non-Compete Agreement
Human Resources
Non-compete agreements allow you to restrict competition between a business and the employees, contractors, or other businesses with which it deals.
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About This Form
A Non-Compete Agreement is a legal contract between an employer and an employee or contractor, where the employee agrees not to enter into competition with the employer during or after employment. This agreement is designed to protect the employer's business interests by preventing the employee from sharing proprietary information or working with competitors. It typically includes details about the duration, geographical scope, and specific activities that are restricted. Non-compete agreements are crucial for businesses that want to safeguard their trade secrets and maintain a competitive edge.
When to Use This Form
- When hiring new employees who will have access to sensitive information
- If you want to protect your business interests from competitors
- When entering into partnerships or contractor agreements
- To prevent former employees from using insider knowledge against your business
- As part of a broader employment or contractor agreement
Key Features
- Defines the scope of restricted activities
- Specifies the duration of the non-compete period
- Outlines geographical limitations
- Includes confidentiality clauses
- May offer compensation for agreeing to the terms
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