Competition provisions Sample Clauses
Competition provisions are contractual terms designed to prevent parties from engaging in activities that would unfairly compete with each other, typically during or after the term of the agreement. These provisions may restrict a party from starting a similar business, soliciting clients, or using confidential information to gain a competitive advantage. By setting clear boundaries on competitive behavior, competition provisions protect the legitimate business interests of the parties and help maintain fair market practices.
Competition provisions. Provisions in employment contracts that forbid employees to enter into an employment contract with the competitors of the employer are non-binding if such an engagement is wider in scope than would be necessary in order to prevent competition or to limit in an unfair manner the employee’s freedom to employment. To determine whether this is the case, each case must be evaluated on a case-by-case basis, taking into consideration all circumstances. Competition provisions, may not be worded too generally. When assessing how far reaching competition provisions in the employment contract may be, particular as regards their scope of application and the time limits involved, the following factors must be considered:
a. The type of work performed by the employee involved, e.g. is the employee a key employee, in direct contact with the customer or is there significant confidentiality attached to the job? In addition, what knowledge or information the employee might possess with regard to the activities of the company or its customers.
b. How quickly the employee’s knowledge becomes outdated and whether a normal balance is kept among the employees.
c. The type of operations involved and the identity of the competitors in the market where the company operates and which the employee’s know-how covers.
d. That an employee’s freedom of employment is not restricted in an unfair manner.
e. That the non-competition clause is clearly defined and concise with regard to the purpose of protecting certain competition interests.
f. The remuneration of the employee will also have an effect, i.e. for instance, what his wages are. The competition provisions of employment contracts do not apply if the employee is dismissed from his position without sufficient cause.
Competition provisions. Provisions in employment contracts that forbid employees to enter into an employment contract with the competitors of the employer are non-binding if such an engagement is wider in scope than would be necessary in order to prevent competition or to limit in an unfair manner the employee’s freedom to
Competition provisions. In order to induce the Company to agree to the terms of this Stock Option Grant, as modified by this Addendum, Optionee agrees that Optionee shall not, except upon a waiver by the Committee in writing of these requirements, at any time after Optionee's Disability or Retirement engage directly or indirectly, as a proprietor, equity holder, investor (except as a passive investor holding not more than ten percent (10%) of the outstanding capital stock of a publicly held company), lender, partner, director, officer, employee, consultant or representative or in any other capacity in the "Home Building Business". As used herein, the term "
Competition provisions. Provisions in employment contracts that prohibit workers from engaging to work with a competitor of the employer shall be non-binding if they are more extensive than is necessary to defend the employer against competition or if they unfairly restrict the worker’s freedom as regards employment. Whether this is the case must be assessed in each individual instance, taking all circumstances into account. Competition provisions may not be worded too generally. When assessing how wide-ranging the competition provisions of an employment contract may be, and particularly as regards their scope of application and the time-limits involved, the following must be taken into account:
a. The type of work done by the worker involved, i.e. whether he is a key worker, is in direct contact with customers or bears substantial obligations regarding confidentiality. Consideration shall also be given to the type of knowledge or information the worker may have regarding the company’s operations or its customers.
b. How quickly the worker’s knowledge or skills will become outdated, and whether members of staff are being treated in a natural way from the point of view of equality.
c. The type of operations involved, and the identity of the competitors on the market on which the company operates and to which the worker’s knowledge relates.
d. That the worker’s freedom of employment may not be restricted unfairly.
e. That the competition provision must be delineated and precisely focussed so as to protect specific competitive interests.
f. Another factor that will be of influence is the consideration received by the worker, e.
g. what his wage is. The competition provisions of employment contracts shall not apply if the worker is dismissed from his job without having himself given sufficient justification for this.
Competition provisions. The following provisions replace Section 16 of the Award Agreement: