Employment Agreement With Non Compete Clause
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FAQ
The current UK position of non-compete clauses Employers insert non-compete clauses into employment contracts to restrict a worker's ability to compete against their former employer after they leave, thereby protecting the former employer's confidential information or customer relations for a specific period of time.
(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.
Covenant Not to Compete. You agree that at no time during the term of your employment with the Company will you engage in any business activity which is competitive with the Company nor work for any company which competes with the Company.
While it is difficult to place a specific value on a noncompete agreement, value can be assigned during purchase accounting. Any noncompete agreement would be amortized over the economic life of the agreement.
If it asks "if you are subject to a non-compete agreement, even if it may not apply to the position you are applying for" then I would say that you must acknowledge it.
