Oregon Clauses Relating to Venture Opportunities, competition
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FAQ
Non-disclosure agreements, non-solicitation agreements, and clawbacks for paid training and education offer viable options to safeguard a business's clients, intellectual property, and investment in employee education.
The term of a noncompetition agreement may not exceed 12 months from the date of the employee's termination. The remainder of a term of a noncompetition agreement in excess of 12 months is void and may not be enforced by a court of this state.
ORS 653.295. For the provisions of a noncompetition agreement to be valid, the statute generally requires that the total amount of the employee's annual gross salary and commissions at the time of the employee's termination must exceed a minimum amount.
Four states?California, Minnesota, North Dakota and Oklahoma?have banned noncompete agreements entirely, and many other states have enacted restrictions, such as setting a compensation threshold or requiring advance notice.
compete clause is a contractual term between an employer and a worker that blocks the worker from working for a competing employer, or starting a competing business, typically within a certain geographic area and period of time after the worker's employment ends.
Advance Notice/Bona Fide Advancement: If the noncompete agreement is required as a condition of employment, the employer must inform the employee two weeks before the first day of employment (or presented to a current employee on a bona fide advancement?usually into a position where the employee will have more access ...
How to Deal with a Non-Compete Agreement Talk to a Lawyer. ... Consider the Scope of the Agreement. ... Limit the Scope of the Agreement. ... Exclude Certain Activities from the Agreement. ... Negotiate a ?Severance Package? in Exchange for Signing the Agreement. ... Don't Sign the Agreement If You Disagree or Don't Understand It.
The term of a noncompetition agreement may not exceed 12 months from the date of the employee's termination. The remainder of a term of a noncompetition agreement in excess of 12 months is void and may not be enforced by a court of this state.