{"id":74397,"date":"2023-08-29T16:54:00","date_gmt":"2023-08-29T16:54:00","guid":{"rendered":"https:\/\/businessyield.com\/?p=74397"},"modified":"2023-11-11T07:55:03","modified_gmt":"2023-11-11T07:55:03","slug":"what-is-a-non-compete-agreement","status":"publish","type":"post","link":"https:\/\/businessyield.com\/bs-business\/what-is-a-non-compete-agreement\/","title":{"rendered":"WHAT IS A NON-COMPETE AGREEMENT? All You Need To Know","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"

There is no disputing that there is a lot of misunderstanding about this form of contract, whether you call it a non-compete agreement or a covenant not to compete. What exactly are they? What are the implications for employers and employees? And, more importantly, are they even enforceable?
So, before you engage in a non-compete agreement \u2014 as an employer or as an employee \u2014 there are a few things you should be aware of. More information about non-compete agreements is provided below, as well as a free non-compete agreement template that you may download.<\/p>

What is a Non-Compete Agreement?<\/h2>

A non-compete agreement is a legal agreement between an employer and an employee under which the employee agrees not to engage in any work activities that are in conflict with or compete with their primary job. Non-compete agreements are used by companies to ensure that their employees do not engage in business activities that may reduce the company’s market share.<\/p>

Noncompete Agreement Components<\/h2>

Each noncompete agreement should address three critical components, notwithstanding the fact that each is drafted differently for each company.<\/p>