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In contract law, a non-compete clause (often NCC), restrictive covenant, or covenant not to compete (CNC), is a clause under which one party (usually an employee) agrees not to enter into or start a similar profession or trade in competition against another party (usually the employer).
Attempts have been made to evade the doctrine by implying trusts (with varying success), constructing the Law of Property Act 1925 s. 56(1) to read the words "other property" as including contractual rights, and applying the concept of restrictive covenants to property other than real property (without success). in case of trust/beneficiary
Non-solicitation agreement provisions—alongside the non-compete clause (NCC) and the non-disclosure agreement (NDA)—constitute one of three restrictive covenants frequently found within a business contract. They may be entered into with both employees and independent contractors—in addition to multiple entities—as part of a larger ...
Restrictive covenants have a complex and sordid history. From the 1920s to the 1960s, racially restrictive covenants became a common tool to prevent racial, ethnic and religious minorities from ...
Such a contract should be tested by a "rule of reason," meaning that it should be deemed legitimate if "necessary and ancillary." An example of the naked type of restraint would be the price-fixing and bid-allocation agreements involved in the Addyston case. Taft said that "we do not think there is any question of reasonableness open to the ...
In most jurisdictions, courts routinely "blue pencil" or reform covenants that are deemed not reasonable. The blue pencil doctrine gives courts the authority to strike unreasonable clauses from a non-compete agreement, leaving the rest to be enforced, or actually to modify the agreement to reflect the terms that the parties originally could have and probably should have agreed to. [3]
An employment bond is a contract requiring that an employee continue to work for their employer for a specified period, under penalty of a monetary forfeiture to the employer. [1] Such contracts and associated surety bonds are similar to indentured servitude or serfdom , in that although employees are compensated, they are not permitted to ...
This article says nothing about restrictive covenants in the context of employment contracts - is there a separate article for this? 217.34.39.123 14:35, 1 March 2007 (UTC) I was just going to say the same thing. The term Restrictive Covenant, in Scots Law at least, refers to a restraint of trade in an employment contract. They are enforceable ...