A non-competition agreement is also known as a non-compete agreement.
The document may be used when hiring a new employee (”Employee”) to an organization or company (”Company”), and prohibits the employee from working at a competitor (”Competitor”) after the employee is terminated or leaves the company. Non-competition agreements are designed to protect a company’s business practices and intellectual property from being provided to a competitor by a former employee.
This agreement might be used by a soft drink company to prevent its employees from taking trade secrets to a competitor. A document will usually specify the time length in which the employee promises to not work for a competitor after leaving the company. The geographic territory and any prohibited activities may also be included. The laws surrounding the use and implementation of non-competition agreements may vary from state to state.
Here are 5 Non-compete agreements available at RealDealDocs:
MISCOR GROUP, LTD.
A Since March 1, 2002, 3-D Service, Ltd
inception Through XGen III, Ltd
Magnetech Industrial Services, Inc.
Venture Equity & Derivative Investment, LLC
Western Alliance Bancorporation, a Nevada corporation (the “Company”) and the Company
Newport Entertainment Group, Inc.
William H. Waldrop
PENN VIRGINIA RESOURCE PARTNERS L P
Penn Virginia GP Holdings, L.P
MLP and Valero Logistics Operations, LP
Riverwalk Logistics, LP
Valero Energy Corporation
Valero GP, LLC
Valero Logistics GP, LLC
Valero GP Holdings, LLC
For more information on non-competition agreements see our April 25, 2014 blog post.