The employee desires to be employed by the company in a capacity in which he/she may receive, contribute, or develop confidential and proprietary information. Such information is important to the future of the company and the company expects the employee to keep secret such proprietary and confidential information and not to compete with the company during his/her employment and for a reasonable period after employment.
Competition Noncompetition For Students In Wayne
State:
Multi-State
County:
Wayne
Control #:
US-00046
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Word;
Rich Text
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FAQ
In Indiana, judges decide if a non-compete is enforceable based on whether or not it is reasonable. The state of Indiana has some of the highest standards for non-compete agreements.
Reasonableness: Non-compete agreements must be reasonable in terms of their scope and duration. This means that the restrictions must be no broader than necessary to protect the legitimate business interests of the employer, such as protecting trade secrets, confidential information, and/or customer relationships.
Do You Have a Non-Compete? If you are subject to a non-compete, you should consult with a lawyer about what effect it may have on your business plan. A non-compete or covenant not to compete is an agreement not to compete with your employer in a certain practice and geographical area.
compete agreement template typically includes the names of the parties involved, the scope of the noncompetition, the duration of the noncompetition, the geographical area where the noncompetition applies, and any exceptions or exclusions.
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.
Describe the terms of the Non-Compete Agreement, such as the length and area of the restriction. If necessary, you can include a non-solicitation clause. Create any additional clauses you want to add. Have the agreement signed by both parties.
(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.
In general, non-competes can't stop you from working. They can stop you from taking specific IP to another company (eg a salesman taking client phone numbers to a new org selling similar products) but even that is a legal gray area.
Analysis. The Final Rule bans almost all non-competes between employers and workers, but does not explicitly ban non-disclosure agreements, customer non-solicitation agreements, or employee non-solicit agreements.
Non-solicitation does not prevent you from working at a competing business. Only prevents you from pulling their clients or employees. Courts take a very dim view of any agreement that prevents future employment in their field.