covenant not to compete

(redirected from Non-compete clause)
Also found in: Medical, Financial, Acronyms, Wikipedia.

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 ?
Likewise with the non-compete clause, which was dropped in favor of growing the private flood market.
Under our law, a non-compete clause is not a price fixing agreement.
As such, a strict reading of this article infers that any non-compete clause or CNC will be invalid.
Typically, a court must find that a non-compete clause protects an employer's legitimate interests before it gets enforced.
The extent to which non-compete clauses are legally allowed varies per jurisdiction.
The same concessions apply to a confidentiality clause as it produces the same effects as the non-compete clause. Since the other operators consulted by the Commission responded positively to these commitments, the Commission decided to make them legally binding
Tawainese PC maker claims its former CEO breached a 12-month non-compete clause
Non-compete clauses have three parts: 1) description of services covered; 2) duration; and 3) geographic area.
The price excludes any fees for a non-compete clause in the contract, Reuters added.
That "sunset date" was June 30, when Packes's non-compete clause with BHS expired, though contracts she signed through BHS will remain there "through the life of the project," she said.
Last June, when the suit was filed, Brody told the San Francisco Bay Guardian that the new owners had not paid the money -- but only because they contended VVM had violated a non-compete clause in the deal that caused the East Bay Express to lose even more potential revenue than that.
The timing of his retirement coincides with the expiration of his three-year non-compete clause.

Full browser ?