Non Compete Agreement Format India
Description
How to fill out Sample Noncompete And Confidentiality Clauses?
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FAQ
In general, if In addition, the employer has the legal right to sue you in court, seeking monetary damages and an injunction against you. However, the court will only order that you are prohibited from working for a competitor for the duration of the clause in highly unusual circumstances.
Duration of a Non-Compete Clause: The non-compete clause prohibits or restricts the shareholder from engaging in any competing business for a specific period. Such a time must be favourable and not unreasonable.
Non-compete clause is prohibited under the Law of Contracts. Section 27 of the Contract Act provides ? 'Every agreement by which anyone is restrained from exercising a lawful profession or trade or business of any kind, is to that extent void'.
Section 27 of the Indian Contract Act-1872 Non-compete clause is prohibited under the Law of Contracts. Section 27 of the Contract Act provides ? 'Every agreement by which anyone is restrained from exercising a lawful profession or trade or business of any kind, is to that extent void'.
Injunction (Stay): The employer may seek an injunction from a court, prohibiting the employee from engaging in any activities that breach the non-compete clause. Damages: The employer may also seek damages from the employee, as compensation for any losses suffered as a result of the breach of the non-compete clause.
