Noncompete Agreement Sample and Creating One
Why would you need a noncompete agreement sample? Well, among the many agreements between an employer and an employee, the noncompete agreement is actually one of the most common ones. So, what should you know about it?
About the Agreement
The noncompete agreement is basically a formal written document that is made between the employer and the employee. The agreement is about the employee not engaged in any employment activities in competition or in conflict with their primary task or job. The agreement is often used by companies to make sure that their employees won’t be involved in business activities that can affect the company’s share.
How to Create One
So, even if you consult the noncompete agreement sample, you need to make sure that there are crucial elements included in the agreement. So, how do you create the agreement?
- Study the competition. Before you make a draft or choose the suitable template, it would be better for you to find out what your competitors’ business about. You want to know or learn about the possible conflicts of interest that may arise among the employees.
- Compose the You can compose one from a scratch or you can find reliable sources that can provide you with the template. If you choose the latter one, don’t forget to customize the contents so it would fit your needs.
- Have a legal professional review it. When you have come up with a draft, you need to have a lawyer to read everything. You want your agreement to be flawless and professional – without any flaw. That’s why you need to have a professional legal expert to help you.
- Present it to the employee. It would be fair if the employees are given enough time to read the contract and to completely understand it. They should also be given the chance to ask you questions.
- Sign the deal. When everyone agrees, then this is the time for everyone to sign it. Only do this when all the involved parties agree and satisfied with the contents. Everyone should also think that the content is fair. After the signing, you need to keep a copy for yourself as well as a copy for your employee – each of them should have one.
Just because you get a sample or template, it doesn’t hurt to make some changes. There are so many different sources of websites that allow you to make the changes to their already existing drafts. If you want to, you can also check our noncompete agreement sample – take a look below.