covenant not to compete

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covenant not to compete

n. a common provision in a contract for sale of a business in which the seller agrees not to compete in the same business for a period of years or in the geographic area. This covenant is usually allocated (given) a value in the sales price. (See: covenant)

References in periodicals archive ?
On the other hand, the evaluation of a non-compete clause is usually a little simpler from an employee-appraiser's point of view: Typically.
This means that physicians hoping to get out of a non-compete clause either voluntarily or through litigation should prepare for a long, expensive fight.
What's more, the case of Wahaha countersuing Danone for violation of the non-compete clause is still in process in Yichang, Hubei province.
Assuming that restrictive covenants involving laboratory personnel are permitted, a non-compete clause can still be found invalid for a number of reasons.
Generally speaking, non-compete clauses have not historically been employee-friendly," says Courtney Rogers Reid, an attorney with a Minnesota-based financial services corporation.
A non-compete clause (examples can be found on Google) is worded so an employed teacher cannot take the students recruited by and taught in the employer's business and then transfer them to a new studio run by that employee.
InfoSpace said Jain was found to break his non-compete clause by "not returning company property".
Since my buyout agreement contained a domestic non-compete clause, I decided to make a virtue out of necessity and moved to Europe as a consultant.
BJI can now participate in these business because a non-compete clause has expired, Albertson explained.
Skirting a non-compete clause that forbids the original partners from reentering the business, Aversa and Guarracino have handed over the family's 70-year-old recipe book to their sons, Federico and Juan Martin.
Some of the most important clauses include the at-will employment clause, non-compete clause, confidentiality clause, no-solicitation clause, and arbitration clause.

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