Covenant not to compete
Term · Law · MLC-T-LAW-001374
A contractual clause, often found in employment agreements or business sale contracts, that restricts an individual or entity from engaging in a similar business or profession within a specified geographical area and time period. These covenants are enforceable if they are reasonable in scope and duration and protect a legitimate business interest. Their enforceability varies by state law.
| Identifier | MLC-T-LAW-001374 |
|---|---|
| Field | Law |
Record as JSON
{
"id": "MLC-T-LAW-001374",
"term": "Covenant not to compete",
"field": "Law",
"definition": "A contractual clause, often found in employment agreements or business sale contracts, that restricts an individual or entity from engaging in a similar business or profession within a specified geographical area and time period. These covenants are enforceable if they are reasonable in scope and duration and protect a legitimate business interest. Their enforceability varies by state law.",
"url": "https://mlchart.com/terminology/law/covenant-not-to-compete/"
}
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