1.Non-compete contracts are given to protect the company from its former employees working on competitors or revealing company trade secrets.
2.It is also called nomcompete agreement, non-competition agreement, non-comp or covenant not to compete. Employees sign it when they got hired, during employment, when they decide to leave or all of the above.
3.It is also given to valuable employees to whom the company have spent money for training or to those who have access to important informations that losing him would accumulate loss for the business.
4.If employees sign it, they agree not to engage in the same industry for a certain period of time after leaving the company. If they opt not to sign it, they’re likely out of a job, benefit or even had been subjected to lawsuit depending on when they chose not to sign.
5.It should not cover too wide geographic area because the legal system also puts high regard on a person’s right to earn a living.
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