This non-competition agreement has been made between a buyer and a seller. Seller acknowledges and agrees that all confidential information known or obtained by seller, whether before or after the date hereof, is the property of the company. Therefore, seller agrees that seller will not, at any time, disclose to any unauthorized persons or use for his own account or for the benefit of any third party any confidential information.
Ohio Sample Noncompetition Agreement - Stock Sale
Category:
State:
Multi-State
Control #:
US-C-9147
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Sample Noncompetition Agreement - Stock Sale?
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FAQ
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.
While non-competition agreements are legal in Ohio, they are scrutinized carefully by the courts. Such restrictive covenants are lawful if the restraints are reasonably necessary to protect the employer's legitimate business interests.
Under Ohio law, noncompetition contracts are generally enforceable if they are reasonable. The question of what's reasonable is a very fact-specific one though. It depends on the particular circumstances of a given situation, and the Ohio Supreme Court has set out a legal test for courts to apply.
To enforce your non-compete agreement against you in Court, your employer must be able to prove that the restrictions in the agreement: (1) are no greater than necessary to protect its legitimate business interests, (2) do not impose an undue hardship on you as the employee, and (3) are not injurious to the public.
Accordingly, Ohio courts enforce non-solicitation provisions if they are both: Necessary to protect employers' legitimate business interests. Reasonable.
Non-compete agreements are enforceable in Ohio. However, there are laws in place that dictate that a non-compete agreement must be reasonable in order to protect the employee. A reasonable non-compete agreement in Ohio must: Be no greater than is required for the employer's protection of a legitimate interest.
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
The duration prohibiting you from competing. The geographic area where you are prohibited from working. The amount of confidential information or trade secrets you were privy to. If the non-compete is attempting to eliminate unfair competition or competition in general.
Are Non-Competes Enforceable in Ohio? Non-compete agreements are enforceable in Ohio. However, there are laws in place that dictate that a non-compete agreement must be reasonable in order to protect the employee.
Non-solicitation clauses that are clear, carefully drafted, and suitably retrained in temporal and spatial terms, are often enforceable.
