Non-Compete Contracts or Non-Compete clauses are essential in a business to protect the company from losing key clients, to maintain the confidentiality of trade secrets or sensitive information, and to ensure that employees do not leave quickly or do not use their skills with the competition.
Legally speaking, a Non-Compete Clause or a Non-Compete covenant is 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 found in a Business or in Employee Agreement Forms, or it could exist as a totally different contract such as the following Non-Competition Agreement Forms.
Employee Non Compete Agreement Form
Basic Non Compete Agreement Form
Free Non Compete Agreement Form
Non Compete Non Disclosure Agreement Form
Business Non Compete Agreement Form
Because Non-Compete Clauses protect your business, it is important that you are able to structure a Non-Compete covenant properly and carefully. Below are some tips on how to make an enforceable Non-Compete Agreement.
Create Reasonable Restrictions
Protecting your business may be your main concern; however, your Non-Compete covenant has to be reasonable enough to be enforceable in the court of law. Remember that Non-Compete Agreements are there to protect your company’s trade secrets and confidential information pertaining to business. Excessive restrictions will more or less not be tolerated by a judge.
The common period of time indicated in a Non-compete is usually a year or two before an employee can commence work with a rival company. However, higher-level employees such as CEOs 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 be specifically inclined toward your business, the industry, and your employees. If you have imparted a unique skill or a specialized form of training to an employee 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.
Some businesses or employers also opt to let employees sign Non Disclosure Agreement Forms to prevent employees, partners, or shareholders from divulging sensitive or confidential information pertaining to the business or its trade secrets.
General Non Compete Agreement Form
Non Compete Agreement Form in PDF
Non Compete Agreement Form Example
Non Compete Agreement Form in Word Format
Provide Law Provisions
Finally, 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 into pieces. Constructing a strong, carefully tailored Non-Competition Agreement Forms can give you the best weapon to protect and secure your business interests.
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