Business Help Guides

How long should the agreement prohibit competition?
It is wise to limit the time frame as much as possible so as to not be overly burdensome on the promising party while still protecting the protected party's interests. Anything between three months and two years is generally accepted, depending upon what is reasonable under the circumstances. For example, if the protected party operates in an indust...
What information is included in a non-compete agreement?
Non-compete agreements are tailored to the protected party's specific business needs but generally include information about the scope of the agreement and the duration. The scope includes information about the definitions and terms of the agreement. It is important that the non-compete clause is tailored to be as narrowly restrictive as possible. C...
When should I use a non-compete agreement?
As a business owner, you should use a non-compete agreement to restrict an employee, contractor or other business from competing with your business for a specific length of time. You can also use this agreement to prevent someone from stealing your employees or customers and to prevent competition in your specific area....
What happens if my non-compete agreement is breached?
If your legally binding non-compete agreement is breached, it is best to act quickly. Where irreparable damage is caused to your business, you may be able to obtain an injunction to prevent the promising party from taking further action. If an injunction is not appropriate or is not granted, you have the option to claim compensation for the damage t...
What is a non-compete agreement?
A non-compete agreement is used by businesses (called the "protected party" in the agreement) to restrict employees, contractors or other businesses (called the "promising party" in the agreement) from setting up a competing business. Businesses use a non-compete agreement to maintain their competitive advantage and safeguard their customers, employ...
What types of protections come with non-compete agreements?
The two main protections the agreement provides is non-competition and non-solicitation. Non-competition means that the business is protected from competition from other parties to the agreement, such as employees, contractors or other businesses. Effectively, these parties are prevented from engaging in competitive activities in places where the bu...
How do I make a non-compete agreement?
LegalNature makes it easy to create a non-compete agreement to fit your needs. Simply follow our step-by-step instructions to create a thorough agreement. Our document questionnaire allows you to customise the terms of your agreement, including the duration of non-compete and non-solicitation obligations, the geographic location where such provision...
How to Create a Non-Compete Agreement
A non-compete agreement is a vital way of restricting competition between a business and the employees, contractors or other businesses that it deals with. The agreement prevents the other party from engaging in competitive activities with the business in any location in which the business operates or sells its products and allows you to specify how...
Is My Non-Compete Agreement Enforceable?
Why Non-Compete Agreements May Be Unenforceable A non-compete agreement, as the name implies, is an agreement that restricts one party (usually an employee) from competing with another party (usually an employer). Surprisingly, it does not take much to make a non-compete agreement unenforceable. This is because courts have recognised important publi...
The Benefits of Having a Business Plan
There are three key reasons to create a business plan. The first is that it helps you to plot your business' future, the second is that it will help you to determine what you hope will happen to your business in a specified time frame, and the......