Define Non Compete Agreement
The latest is a new law setting forth a new standard by which non compete agreements are to be evaluated.
Define non compete agreement. A non compete prohibits an employee from engaging in a business that competes with hisher current employers business. A guide to non compete and non solicit agreements ignorance isnt always bliss especially in colorados tight labor market. You want to prevent employees or business partners from using proprietary information to compete against you after they leave the company. February 2014 outsiders beware of louisiana law on non compete agreements.
Over the last year nevadas non compete law has undergone a number of changes. You are buying a business and you do not want the seller to start a competing business. What a non compete agreement should specify. A non compete agreement is a contract between an employee and employer.
When an employee leaves a company the contract prevents them from leaking the business confidential information to a competitor. The most litigated issue in employment contracts is the legality of so called restrictive covenant provisions such as a non compete clause which bars an ex employee from going to work for a competitor. The reasoning behind non compete agreements is simple. An nca should include the following information.
A non disclosure agreement nda also known as an nda or a confidentiality agreement is a contract that prevents one party from releasing secret information binds a recipient of secret information including trade secrets or proprietary business information to outside parties. You need to be completely clear about when the nca starts when it ends and the exact duration of its validity.