The Non-Compete Agreement for Self-Employed Individuals you observe on this page is a reusable legal framework created by experienced attorneys in accordance with federal and state laws.
For over 25 years, US Legal Forms has supplied individuals, companies, and legal professionals with more than 85,000 authenticated, state-specific documents for various business and personal needs. It represents the quickest, most direct, and most dependable approach to securing the paperwork you require, as the service ensures the utmost level of data protection and anti-malware safeguards.
Register with US Legal Forms to have verified legal templates for every situation in life readily available.
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.
Under Texas law, the covenant not to compete must be supported by valid consideration. Also, the restrictions must be reasonable. Thus, while binding an independent contractor is possible under the Texas noncompete statute, the usual statutory requirements must be observed.
In certain circumstances, it is possible to find non-compete contract loopholes that may void the contract. For example, if you can prove that you never signed the contract, or if you can prove the contract is against the public interest, you may be able to void the agreement.
Keep in mind that each state enforces non-compete agreements differently. Some states, most notably California, have banned non-compete agreements entirely. Illinois courts grappled with whether non-competes should be enforced for decades.
Here are some tips you can follow: Talk to a Lawyer. ... Consider the Scope of the Agreement. ... Limit the Scope of the Agreement. ... Exclude Certain Activities from the Agreement. ... Negotiate a ?Severance Package? in Exchange for Signing the Agreement. ... Don't Sign the Agreement If You Disagree or Don't Understand It.