Non-compete agreement
Non-compete agreements can be very useful pieces of documentation, as long as they are understood and used correctly.
What is a non-compete agreement?
A noncompete agreement is a document that prevents what one party, often the employee of a company, can do when in employment at that company - and sometimes after. They can be highly restrictive and will often delineate what, when and who a person can or cannot work for after leaving a company. There is often a time frame included in this and will often be up to 12 months. It can also stop them from setting up their own company after leaving a firm that is within the same industry for a certain amount of time. Sometimes, a non compete agreement will also determine if an employee should be compensated for the time they cannot work for a competitor or for themselves after leaving their original employer.
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