noncompete clause


Also found in: Legal.

noncompete clause

Medical practice A clause in a contract in which the provider of a specific service, commonly understood to be physicians in private practice, agrees not to practice medicine–ie, compete–in the same geographic region–the size of which is defined by the contract
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Schroeder added that Sylvan's franchise agreement with Noland contains "a noncompete clause," which he said would prevent her from offering competing tutoring services locally for two years.
In reviewing her contract, she noted that all she had to do was to give 30 days' notice, but then discovered there was a noncompete clause that forbade her from setting up her practice within a mile of the group's clinic in the next 3 years.
Peter Duke founded Smartwool, sold Smartwool, and got back into the sock business with Point 6 in 2008 when his noncompete clause came to an end.
This treatise identifies issues with significant splits of authority across the states, including whether the mere leasing of property to a competitor violates the terms of a noncompete clause where the clause fails to include language specifically prohibiting such action.
In lieu of a noncompete clause, ask if a less extensive nondisclosure or nonsolicitation clause can suffice.
While Swartz signed a noncompete clause, the agreement did carve out a specific exception, that it should not restrict him from "non-commercial activity, either by himself or with, for, or on behalf of any other person or entity, including, without limitation, any corporate social responsibility activity or charitable or philanthropic activity.
example, a noncompete clause may be wasteful because it restrains the
Lease Expires January 2010 Options Open Extremely Competitive NonCompete Clause Available.
but must keep away from storage technology development because a noncompete clause requires him to steer clear of that area for a year.
The second is a debtor's obligations under a noncompete clause in an employment contract.
Workers who decide to take the career break will have to sign a noncompete clause to ensure they do not take a job at a rival bank during their time off.