Non Compete Agreements
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In legal jargon, a non-compete agreement is a covenant or contract not to compete. An individual signing it agrees not to compete with your employer by engaging in any business of a similar nature, as an employee, an independent contractor, owner, or significant investor. Non-compete agreements are intended to protect employers from losing valuable trade secrets. The goal is to prevent the disclosure of sensitive business information and trade secrets. A trade secret is information that gives a company a competitive advantage because it is not generally known outside of the company -- particularly from competitors who would benefit from it.Whether or not a non-compete agreement is a legal and binding contract depends on state or local laws, the scope of the restrictions your employer included in the contract. Gina Fraone explains in
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Approximate Word count = 583
Approximate Pages = 2 (250 words per page)
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