Non-Compete Agreements

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Commonly Asked Questions about Non-Compete Agreements

Definition What is in a non-compete clause?

ing to the Final Rule, a non-compete clause is any term or condition of employment that prohibits a worker from, penalizes a worker for, or functions to prevent a worker from (i) seeking or accepting work in the United States with a different person where such work would begin after the conclusion of the Understanding the FTCs Non-Compete Clause Rule and Its wilmerhale.com insights client-alerts 2 wilmerhale.com insights client-alerts 2

What is the meaning of non-compete agreement?

A non-compete agreement legally binds a current or former employee from competing with an employer for a specific time after employment ceases. Under such an agreement, the employee must not reveal any trade secrets learned during or after employment.

What is an example of a covenant not to compete agreement?

I agree that during the course of my employment and for a period of twelve (12)months immediately following the termination of my relationship with the Company, whether I resign voluntarily or am terminated by the Company involuntarily, I will not, without the prior written consent of the Company, whether paid or not:

Is the US banning non-compete agreements?

The Democratic-controlled FTC approved the ban on noncompete agreements in a 3-2 vote in May. The commission and supporters of the rule say the agreements are an unfair restraint on competition that violate US antitrust law and suppress workers wages and mobility.

How enforceable is a non-compete agreement?

Some states, like California, have adopted statutes rendering non-compete agreements void for nearly all employees with limited exceptions.

What makes a non-compete clause valid?

One of the most important factors courts will often look at when determining the validity of a non-compete agreement is whether it actually protects a legitimate business interest of the employer. If it doesnt, there really isnt any reason to stop the employee from competing against a former employer.

What does a Non-compete document look like?

It reads something like this: For the complete duration of the Agreement, and [time period] after the termination of the Employees relationship with the Company, the Employee will not a) engage as an employee, officer, director, partner, consultant, agent or owner b) be associated in any other capacity, with a

How to write How to write a non-compete clause?

The Employee specifically agrees that for a period of [months/years] after the Employee is no longer employed by the Company, the Employee will not engage, directly or indirectly, either as proprietor, stockholder, partner, officer, employee or otherwise, in the same or similar activities as were performed for Noncompete and Nonsoliciation Provisions - SHRM shrm.org topics-tools tools forms no shrm.org topics-tools tools forms no

What states are non-compete illegal?

State governments continue to tighten restrictions on non-competes across the country. State laws in North Dakota and Oklahoma prohibit the enforcement of the contractsand California doesnt recognize them at all.

What is an example of a non-compete clause?

(c) [Employee name] agrees not to set up in business as a direct competitor of [company name] within a radius of [number] miles of [company name and location] for a period of [number and measure of time (e.g., four months or 10 years)] following the expiration or termination of this agreement.