Compete or Not Compete

Aug 07, 2018

More and more companies are employing non-disclose, non-compete, and/or non-solicitation agreements to protect their intellectual property, their client base, and their top employees.In today’s highly competitive world such agreements are an important feature of defense for a company to maintain its profitability. In case if you are entering into a non-compete agreement, it may be necessary to consider its provisions in order to avoid any potential disputes or obstacles to a successful and long-term business relationship. Simply put, a non-compete agreement or clause is a legal contract between an employee and an employer wherein the employee agrees not to enter into competition with the employer during or after employment. These legal agreements prevent employees from entering into markets or professions considered to be in direct competitions with the employees. Depending on the manner these agreements are drafted, the clauses can go further than protecting employer from his former employee working for a competitor. It can also provide additional guarantees and prevention from disclosure of any kind of trade secret – ideas, software, formulas etc. Despite that every non-compete agreement is drafted for specific matter, there are three key-components that need to be included:

-Term: It is highly uncommon for Long-term agreements to prevail in court. Usually agreements are two years or even less, with the most common being six months to a year.

-Subject: This provision must be specific as to the restricted work and particular services.

-Location: The geographic area where the company does business is a reasonable determination. Sometimes they include a mile radius around the office building.

To sum up the above Offshorelicense is able to figure out what your business needs are, choose the right course of actions and draft the right document.

Offshorelicense would be the best solution to hire as a legal provider for the purpose of drafting an individual non-compete agreement.

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