Noncompete

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Noncompete

A provision in a number of employment contracts that prohibits an employee from working for a competing firm for a specified number of years after the employee leaves the firm.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Noncompete

Describing a clause in many employment contracts forbidding an employee from working for another firm that competes with the employer for a certain number of years after the termination of the contract. A noncompete clause may have a geographic limit. For example, a dentist who goes to work for corporate dental practice may sign a noncompete clause forbidding him from working for a competing dental practice within 25 miles for five years after the completion of the contract.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
Summary: New Delhi [India], Apr 25 (ANI): National Stock Exchange of India (NSE) has announced the launch of its "e - Gsec" platform for facilitating the non-competitive bidding in Government of India Dated Securities (G-Sec) and Treasury Bills (T-Bills).
State governments, eligible provident funds in India, designated Foreign Central Banks and any person or institution specified by the Bank in this regard, can participate on non-competitive basis, the allocation for which will be outside the notified amount.
In essence, there was stronger interest for the CPI-linker, as evidenced by the 3.9x bid-cover ratio at the auction and 20x bid-cover-ratio at the non-competitive sales.
A state development loan auction on Tuesday saw a large number of non-competitive bidders.
NON-COMPETITIVE Bear in mind that these crossovers are limited to AKC's non-competitive hunting tests within the Sporting Group.
Non-competitive classes give inexperienced performers the chance to join in and gain confidence, while competitive classes invite the very best to win medals and trophies.
Here, Nostrapharmus looks at a different kind of collaboration: that between companies in the non-competitive space ...
Connecticut State MTA offers a variety of competitive and non-competitive performance venues for students, with a wide range of performance levels.
NON-COMPETITIVE sports days at schools have been branded bonkers, the chief education watchdog said on a visit to Huddersfield.
The attorney general may authorize a non-competitive procedure, where FPI cannot reasonably expect fair consideration to receive the contract on a competitive basis, and the contract award is necessary to maintain work opportunities otherwise unavailable at the penal or correctional facility.
The dependent variables, which were computed for each counselor for the 1988/1989 fiscal year, were: (a) competitive closure rate, which was the ratio of competitive employment Status 26 (rehabilitated) closures to all other closures, including other Status 26 closures and closures from applicant and extended evaluation statuses; (b) number of non-competitive closures, which was the total number of closures minus the number of closures in Status 26 closures with a work status of competitive employment; and (c) case service dollar expenditures for non-competitive closures, which was the total case service dollar expenditures for the non-competitive closures previously described.