South Dakota and Iowa Licensed Private Investigator and Process Serving - Nationwide Service Available (605) 368-1037 or (712) 254-8227

A non-compete agreement is a legally binding contract between two parties, typically an employer and an employee or a business and a contractor, that prohibits one party from engaging in activities that would compete with the other party. These agreements are commonly used to protect trade secrets, customer lists, and other confidential business information.

If you`re in the process of creating a non-compete agreement, you may be wondering where to start. Fortunately, there are many simple non-compete agreement templates available that you can use as a starting point.

Here are some key components that you should include in a non-compete agreement:

1. Parties involved: Be sure to clearly identify the parties involved in the agreement, including the employer, employee, or contractor.

2. Scope: Outline the scope of the agreement and the specific activities that the individual is prohibited from engaging in. This could include things like working for a competitor, soliciting customers or clients, or sharing confidential information.

3. Duration: Specify the length of the non-compete agreement. This could range anywhere from a few months to several years, depending on the nature of the business and the agreement.

4. Geographic restrictions: If the non-compete agreement includes geographic restrictions, be sure to clearly outline the boundaries and limitations.

5. Consideration: Non-compete agreements are only enforceable if there is some form of consideration provided to the employee or contractor. This could be in the form of additional compensation or other benefits.

It`s important to note that non-compete agreements are often heavily scrutinized by courts and may be difficult to enforce if they`re deemed overly restrictive. It`s also important to consult with an attorney to ensure that your non-compete agreement complies with local laws and regulations.

Using a simple non-compete agreement template can be a great starting point, but it`s important to customize it to your specific needs and circumstances. By including these key components and consulting with legal counsel, you can create a strong non-compete agreement that protects your business interests.