A Non-Compete Agreement, often incorrectly referred to as a "Noncompete Agreement," is a legal contract signed between two parties, employers and employees, where they have agreed on the fact that the individual will not enter into competition with the company where they work, during or after their employment. It means that an employee who has signed this type of agreement cannot work for a competitor of their former employer or disclose any proprietary information. The information that is not supposed to be disclosed is defined in the agreement.
Most states recognize Non-Compete Agreements, however before signing one an individual should check the state law of where they reside in order to understand if there are any legal restrictions dedicated to the agreement's duration, the territory of coverage, consideration payment, etc.
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