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.

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.
References in periodicals archive ?
Former employees may also attack the validity of a non-compete agreement based on public policy concerns.
This is why non-compete agreements are so important.
His practice covers a range of industries in the drafting and enforcement of non-compete, confidentiality, and other employment-related agreements throughout the United States.
Richard Rabin, a partner in the labor and employment practice at Akin Gump, was featured in the article Steps Hedge Fund Managers Can Take in Light of NY Attorney Generals View That Certain Non-Compete Clauses Are Unconscionable, which was published in The Hedge Fund Law Report.
In a merger or acquisition (MandA) where a company purchases either the assets or shares of stock of a competing company, the buyer usually insists the inclusion of a non-compete clause that prohibits the seller from engaging in any business that competes with the buyer.
So with every contract signed, a non-compete must show that a company has a legitimate business interest to protect.
Time will tell, but in either case, the non-compete agreement has once again become a topic of conversation in lighting.
Non-compete agreements were a hot topic during this year's legislative session, with Utah's tech community weighing in on both sides of the issue.
A non-compete that unduly restricts trade or livelihood likely wouldn't be enforceable anywhere.
Under California statute, the owners of the appraisal firm almost certainly cannot enforce the non-compete provision in the agreement you signed.
Deval Patrick and the venture capital firms that back startups in the state when the Legislature declined to ban non-compete agreements.
Have you ever been asked to sign a non-compete agreement?
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