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Noncompete Agreement Template

Create a customized, legally binding contract for employees that protects proprietary information.

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Noncompete Agreement Template

It's probably taken a lot of blood, sweat, and tears to get your company where it is now. Don't let an employee ruin it all by grabbing your trade secrets and running off with them! Use this noncompete agreement template to protect your proprietary business information from situations that could possibly put you out of business. No matter your industry, location, or company size, if you have a competitive edge you don't want to give away, invest some time making this template your own.

What is a noncompete agreement?

What is a noncompete agreement?

A noncompete agreement is a binding contract that protects proprietary business information. The contract can limit the employee or contractor from working for competing businesses, soliciting certain clients, starting their own business within the same sector, or a variety of other actions that could be deemed as direct competition or use of trade secrets. The contract must include a realistic timeframe and defined geographic area. It's wise to check your state's regulations to avoid legal repercussions for creating a noncompete agreement that is considered unreasonable or excessive.

Why should I use a noncompete agreement?

Why should I use a noncompete agreement?

If your business is successful because of proprietary information, you need to protect that information to ensure your business continues to thrive. A noncompete agreement provides your business with protection and security by clearly defining what is considered a misuse of trade secrets, proprietary information, and business connections. If violated, you can take legal action to enforce the agreement. If you work in an incredibly competitive industry that must innovate often, it's crucial to have a noncompete agreement in place to ensure your competitive advantage is protected.

How do I create a noncompete agreement?

How do I create a noncompete agreement?

Formstack Documents makes it incredibly easy to customize this noncompete agreement template. You can quickly fill out details and send it off for eSignature in just a few minutes. With more than 40 integrations, you can use Formstack Documents to connect this contract to your most-used tools to streamline data management and document creation. Consider adding this employee agreement to your onboarding process. With Formstack Documents, you will cut down document preparation time and streamline inefficient, manual processes.

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