This non-compete and non-solicitation agreement has been entered into by a corporation and an employee. The employee agrees not to become employed by, or enter into any similar agreement as a director, employee, independent contractor, consultant, agent or partner with another corporation similar to the one identified within the agreement during the closing of a twenty-four month recapitalization venture.
Louisiana Sample Noncompetition and Nonsolicitation Agreement
Category:
State:
Multi-State
Control #:
US-C-9200
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Sample Noncompetition And Nonsolicitation Agreement?
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FAQ
If you find yourself bound by a non-compete clause, you might explore potential loopholes or request a legal review. Some individuals successfully negotiate the terms, while others may wait until the clause expires. It’s wise to consult professionals knowledgeable about Louisiana Sample Noncompetition and Nonsolicitation Agreements to guide your actions effectively.
Yes. If the non-compete agreement is between one of the eight relationships listed in the law, an enforceable non-compete agreement in Louisiana can be for no longer than two years from date of termination of the relationship. It can be shorter, but it cannot be any longer than two years.
After expiration or termination of this agreement, employee name agrees not to compete with company name for a period of number years within a number mile radius of company name and location.
In order to be enforceable, a non-compete agreement must include an offer, acceptance, intent, and a benefit or consideration to the employee in exchange for his or her promise. The benefit could be as simple as getting the job or, for an existing employee, getting a promotion or raise.
In short, Louisiana law on non-compete agreements cannot be avoided for outsiders seeking to do business in Louisiana. The validity of non-compete agreements in Louisiana is strictly controlled by a single statutory provision (La. R.S. 1) and its judicial interpretation.
A standard non-compete agreement is a formal agreement between an employer and employee that states that the employee will not engage in any employment activities that are in competition or conflict with their primary job.
Key TakeawaysA non-compete agreement legally binds a current or former employee from competing with an employer for some period of time after employment ceases.Under such an agreement, the employee must not reveal any trade secrets learned during employment.More items...
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
After expiration or termination of this agreement, employee name agrees not to compete with company name for a period of number years within a number mile radius of company name and location.
Beginning August 1, 2020, Louisiana's recently revised non-compete law permits a corporation, partnership, or limited liability company to enter into agreements with their shareholders, partners, and members, respectively, that prevent them from becoming employees of a competing company under certain conditions.
