A Non-Compete Agreement, sometimes also called a non compete clause, is an agreement between two parties under which one of the parties receives consideration and agrees not to compete with the other party in a certain business, for a certain period of time and/or in a certain geographic area.
Usually a non-compete agreement is entered between an employer and an employee to prevent the employee from starting a competitive business or working for a competitor and using knowledge, such as trade secrets, gained during the course of the original employment.
Definition for Non-Compete Agreement and non compete clause