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A non-compete clause or covenant not to compete(CNC), is a term used in contractunder which one party (usually an employee) agrees not to pursue a similar profession or trade in competition against another party (usually the employer).
Often, a non-compete agreement is used to prevent an employee from quitting and going to work for a competitor. Usually, non-compete provisions are often 6 - 12 months long.
Whether a non-compete is valid and enforceable varies from state to state. For example, California rarely finds such agreements valid. My own state of Virginia will only enforce non-compete agreements which are reasonable in geographical scope and duration.
We write about the enforceability of non-competes in Virginia on our blog:
http://virginianoncompete.blogspot.com
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If you have not signed a non compete can you compete?
can you compete if you have not signed a non compete agreement
Who needs a non compete agreement?
Inquire to find out who needs a non compete agreement. There are many subjective areas that require these agreements, so there are many people who need them.
Where to download non compete agreement template?
You can find non compete agreement templates at your local legal business service which may be provided by local lawyers in the area who are willing to help you do your business.
Can an previous employer sue a previous employee for non compete?
Certainly, happens all the time. If you sign a non-compete agreement, then comply with it.
The company you worked for merged you left started your own business can you take there clients from the company you worked before the merger?
If you did not sign a non-compete agreement when you were hired, then generally yes You should review the paperwork you originally signed when you were hired and consult with a lawyer if it does contain any type of non-compete agreement. If there was absolutely no non-compete agreement, you will generally be fine taking the clients.
Does a non compete clause need to be notarized to be legal?
The only requirement for a non-compete clause to be legal is for both parties to sign the agreement. It does not need to be notarized, nor are witnesses required.
What does Non Comp Bond mean?
Non-compete bond refers to a financial guarantee that a party agrees to pay to compensate another party for any potential financial losses incurred due to a breach of a non-compete agreement. This bond serves as a form of security to ensure that the party subject to the non-compete agreement upholds their obligations. If a breach occurs, the bond can be used to cover damages resulting from the breach.
What is the time limit on the non compete agreement and what is the time period?
The time limit depends on what has been agreed to in the non compete contract. You are best to seek legal advice from your local lawyer to see if you have any claim.
Need a Non compete legal form?
Since there exists various non-compete formats. You can create a non-compete agreement incorporating the requisites restraining the other party, basis your business requirements. Incase you need help to create one, please provide me the details pertaining to business requirement and i can create one draft for you which you can use as a standard document for executing non-compete agreements.
What is the most important information on a Non Compete Agreement Template?
A non-compete clause , or covenant not to compete , is a term used in contract law under which one party (usually an employee) agrees not to enter into or start a similar profession or trade in competition against another party (usually the employer).
Is there a legal reason why a consignment store employee may not open their own store across town?
The only "legal reason" is if that employee had signed an "non compete" agreement.
How does my employer get an injunction against me for violating my non-compete agreement Is it a one-sided process or do I get to defend my position and present facts?
Non-compete agreements are difficult to enforce. If you don't steal customers, they have a hard time preventing you from earning a living. You should, of course, consult an attorney in your area that knows the laws in your state.
