Tennessee Clauses Relating to Venture Opportunities, competition
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I agree that during the course of my employment and for a period of twelve (12)months immediately following the termination of my relationship with the Company, whether I resign voluntarily or am terminated by the Company involuntarily, I will not, without the prior written consent of the Company, whether paid or not: ...
In Tennessee, while covenants not to compete are technically"disfavored," generally speaking, they will be enforced by the courts provided that they are "reasonable" under the particular circumstances.
compete agreement is a legal agreement or clause in a contract specifying that an employee must not enter into competition with an employer after the employment period is over.
compete clause is a contractual term between an employer and a worker that blocks the worker from working for a competing employer, or starting a competing business, typically within a certain geographic area and period of time after the worker's employment ends.
Legal Requirements for Non-Competition Agreements In order to be considered valid, a non-competition agreement must: Be supported by consideration at the time it is signed. Protect a legitimate business interest of the employer. Be reasonable in scope, geography, and time.
You agree that at no time during the term of your employment with the Company will you engage in any business activity which is competitive with the Company nor work for any company which competes with the Company.
These agreements may also be called a "covenant not to compete" or a "restrictive covenant." Non-competes ensure the employee will not use information learned during employment to start a business and compete with the employer once work is over.
Otherwise known as a no competition clause, a competition clause is an additional condition in an employment contract. It stops an employee from going off to work with competitors or even industries as a whole after they have resigned from a company.