Mississippi Employment Agreement with Business Development Manager with Covenant not to Compete
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How to fill out Employment Agreement With Business Development Manager With Covenant Not To Compete?
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FAQ
A covenant not to compete, also called a "nompete agreement" or "non compete clause," is an agreement where one party promises not to compete with the other party in a specified area for a certain period of time. A covenant not to compete can be found in an employment contract or a sale of business contract.
If you are an employee and have signed a non-compete agreement, it is important to understand the scope of non-compete agreements within the law. Mississippi law protects free trade and, in order for a non-compete to be enforceable, it must be reasonable in scope.
In general, if you rely on a one size fits all policy when drafting restrictive covenants, it risks them being unenforceable. Certain restrictive covenants will be enforceable, if you are able to prove that they are: reasonable. necessary to protect legitimate business interests; and.
AN ACT TO CREATE NEW SECTION 87-11-1, MISSISSIPPI CODE OF 1972, TO PROHIBIT NONCOMPETE AGREEMENTS IN PHYSICIAN CONTRACTS; TO DEFINE TERMS; TO CREATE EXCEPTIONS; TO PROVIDE FOR REIMBURSEMENT BY THE TERMINATED PHYSICIAN IN SOME CIRCUMSTANCES; AND FOR RELATED PURPOSES.
It is possible to find non-compete loopholes in certain circumstances in order to void a non-compete contract. For instance, if you can prove that you never signed the contract, or if you can demonstrate that the contract is against the public interest, you may be able to void the agreement.
12 In Donahoe v. Tatum, the Mississippi Supreme Court found that a non-compete provision of five years was reasonable, explaining that it is the law's function to maintain a reasonable balance in this area.
Where an employer claims a financial remedy or damages for breach of a restrictive covenant in an employment contract, the employer will need to show some loss resulting from the breach. This will normally be loss of profits on contracts or opportunities diverted by the employee.
Currently the courts are only likely to enforce restrictions up to 12 months long, and even then, only for senior employees who could cause serious damage. Restrictions of 3-6 months are seen as much more reasonable for most employees.
This is because of its potential to be anti competitive, and therefore against public policy. Restrictive covenants are only enforceable if their effect is stringently restricted to what is essential to protect particular business relationships and information.
The general position is that post-termination restrictive covenants are void on public policy grounds as being in restraint of trade, unless they are being used by the employer to protect a legitimate business interest.
