Non Competition Agreement
A Non-Compete Agreement is a contract between two parties where one party agrees not to compete with the other for a period of time. The Agreement is often entered into at the end of employment or the end of a business relationship, but it can also be a pre-condition to a business relationship. The Agreement lessens the possibility that knowledge gained by an employee or business partner will be used in the future to compete against them. In exchange for not competing, the party is paid a fee (or it's a condition of their engagement). In most cases, the Non-Compete Agreement would prevent someone who signed it from competing directly, or from working for a competitor. This agreement outlines the duration of the agreement, any geographical limitations, and what subjects or markets it covers.
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