A Non-Compete Agreement (also known as a Covenant Not To Compete) is a legally binding contract between an employer and an employee that prohibits the employee from competing with the employer in certain areas of business. This type of agreement is designed to protect an employer’s trade secrets, confidential information, and business interests. Generally, Non-Compete Agreements are used to prevent an employee who has knowledge of an employer’s confidential information from using that knowledge to compete with the employer. There are three main types of Non-Compete Agreements: 1. Non-Compete Agreement with a Specific Employer: This type of agreement prevents an employee from competing with their current employer during the term of their employment and for a specified period of time after their employment ends. 2. Non-Compete Agreement with a Specific Geographic Area: This type of agreement prevents an employee from competing with their current employer in a specific geographic area during the term of their employment and for a specified period of time after their employment ends. 3. Non-Compete Agreement with a Specific Industry: This type of agreement prevents an employee from competing with their current employer in a specific industry during the term of their employment and for a specified period of time after their employment ends.
A Non-Compete Agreement (also known as a Covenant Not To Compete) is a legally binding contract between an employer and an employee that prohibits the employee from competing with the employer in certain areas of business. This type of agreement is designed to protect an employer’s trade secrets, confidential information, and business interests. Generally, Non-Compete Agreements are used to prevent an employee who has knowledge of an employer’s confidential information from using that knowledge to compete with the employer. There are three main types of Non-Compete Agreements: 1. Non-Compete Agreement with a Specific Employer: This type of agreement prevents an employee from competing with their current employer during the term of their employment and for a specified period of time after their employment ends. 2. Non-Compete Agreement with a Specific Geographic Area: This type of agreement prevents an employee from competing with their current employer in a specific geographic area during the term of their employment and for a specified period of time after their employment ends. 3. Non-Compete Agreement with a Specific Industry: This type of agreement prevents an employee from competing with their current employer in a specific industry during the term of their employment and for a specified period of time after their employment ends.
