covenant not to compete

covenant not to compete
covenant not to com·pete n: a covenant in an agreement (as for the sale of a business) by which one party agrees not to engage in the same business or a similar business in a particular area for a period of time

Merriam-Webster’s Dictionary of Law. . 1996.

covenant not to compete
n.
An agreement made as part of a contract for employment in which the covenantor agrees not to compete with the covenantee in a particular area for a specified time.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


covenant not to compete
Category: Business, LLCs & Corporations → Buying or Selling a Business
Category: Employment Law & HR → Employee Rights
Category: Employment Law & HR → Human Resources
Category: Patent, Copyright & Trademark → Trade Secrets

Nolo’s Plain-English Law Dictionary. . 2009.

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 also: covenant

Law dictionary. . 2013.

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