''Forfeiture for competition agreement'', an agreement that by its terms or through the manner in which it is enforced imposes adverse financial consequences on a former employee as a result of the termination of an employment relationship if the employee engages in competitive activities.
Massachusetts law requires that non?compete agreements be limited in time, scope, geography, and supported by consideration. A non-compete must not be broader than necessary to protect one or more of the following legitimate business interests of the employer: The employer's trade secrets.
Covenants not to compete in conjunction with the sale of a business are generally enforceable if which of the following conditions are met? Provided the covenant not to compete is reasonable with regard time and location, the covenant will be enforceable.
What are Non-Compete and Non-Solicitation Agreements? Non-compete and non-solicitation agreements are restrictive covenants that help companies protect legitimate business interests by restricting a worker's post-employment activities when an employment relationship ends.
The Massachusetts Non Compete Act states that an employer must pay at least half of your average base salary for the duration of the restricted period unless the employer chooses to waive the non compete restrictions. This is called "garden leave" in the statute.
"A covenant not to compete contained in a contract for personal services will be enforced if it is reasonable, based on all the circumstances."
Unlike the FTC rule, the Massachusetts law did not apply retroactively. The Massachusetts law states that non-compete agreements signed after the effective date of the legislation must have a "garden leave" provision or other mutually-agreed consideration for the non-compete.