Non-Compete Agreements or Non-Compete clauses are necessary in a business contract to protect the company from losing key clients, to maintain the confidentiality of corporate information, and to ensure that employees do not leave quickly or work for competitors, rendering the training spent by the company on them useless.
A Non-Compete Agreement is a contract or a clause wherein one party agrees not to enter or start a similar profession or trade in competition against another party for a specific period of time. A Non-Compete Agreement may be a clause incorporated within a Business or Employee Contract, or it could exist as a totally different entity such as the following Non-Compete Agreement Forms.
Employee Non-Compete Agreement Form
Sale of Business Non-Compete Agreement Form
Non-Compete Non-Disclosure Agreement Form
Basic Non-Compete Agreement Form Sample
Legal Non-Compete Agreement Form in Doc
Because Non-Compete Clauses are created to protect the confidentiality of your business, it is important that you are able to properly and thoroughly construct a Non-Compete covenant. Below are tips on how to make an enforceable Non-Compete Agreement.
Make Your Restrictions Reasonable
Non-Compete covenants have to contain reasonable limitations in order for them to be actually enforceable. Excessive restrictions may not be tolerated by a judge and may fall on deaf ears when a legal proceeding occurs. A Non-Compete is usually good for a year or two before an employee is then allowed to work in the same field or for a competitor. Higher-level employees, on the other hand, such as a CEO, may require at least 3 years before they are able to conduct business with a competitor or set up a similar company.
Implement an Employee-Specific Covenant
Your Non-Compete Agreement should also be specifically inclined toward your employees. If you were able to impart to an employee a unique skill or a specialized form of training, or if the employee was given access to a trade secret or confidential information, then a Non-Compete may have a higher chance of being enforceable.
Independent Contractor Non-Compete Agreement Form
Non-Compete/Confidentiality Agreement Example
Vendor Non-Compete Agreement Form
Free Printable Non-Compete Agreement Form
As an added form of securing the company’s interests, some employers also opt to let employees sign Non Disclosure Agreement Forms to prevent employees, partners, or shareholders from sharing sensitive or confidential information about the business to third parties.
Provide Law Provisions
A Non-Compete Agreement has to properly indicate any legal proceedings or legal actions that are to be made if a breach of contract happens.
Successful businesses and companies do not happen overnight. They require a lot of hard work and tremendous effort pertaining to business and marketing strategies. It is absolutely normal to want to protect it and guarantee that the company you have worked so hard for does not crumble to pieces. Constructing strong, carefully tailored Non-Competition Agreement Forms can give you to the best weapon to protect and secure your business interests. There are hundreds of Agreement Forms available online; however, not all of them are able to cover the basic constituents of an enforceable contract. Our Agreement Forms range from Rental Agreement Forms to Deposit Agreement Forms to Lease Agreement Forms. A wide array of options are available for the type of contract you need to fit your business.
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