Non Compete Contract - 3334 Downloads

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Non Compete Contract
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Downloads: 3334
Uploaded on: 2015-11-06 15:59:00
File Name: Non-Compete-Contract.docx
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One of the risks that any company faces when training a skilled employee is the chance that said employee will take those talents to another company or even start their own business. To help prevent this, many employers use a non-compete contract. This contract ensures that an employee will not use trade secrets or confidential information as an advantage with a different company in the same business. One of the issues facing this contract is that fact that there needs to be an incentive to get an employee to sign the form. For that reason, the non-compete contract usually includes a section that details payment and compensation. The contract also outlines exactly what is protected in terms of confidentiality and how long the terms remain in effect. In most cases, this term is set to ensure that by the time the contract expires any information gathered by the employee will be out of date. Thus, contracts drawn up for the technology and software industries tend to have shorter terms than those in other fields. The contract below is a standard non-compete contract sample and uses a default term of two years. It can serve as a template for many businesses, although you may want to consider adjusting certain language to fit the exact type of company that will be using it.

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