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Delaware Non-Compete Agreement Template

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The Delaware Non-Compete Agreement Template aids business entities seeking to impose non-compete rules upon entities upon the end of their professional relationship. In recent years, Delaware courts have made changes that are less predictable regarding non-compete document cases. Regardless, this paperwork may still be drawn by companies and corporations, to be completed between employee and employer. Ultimately, once this document has been completed and signed, it becomes a legal contract. Thus, if there is any questionable activity by a signature party, there may be an opportunity to collect damages. Of course, this is strictly at the discretion of a court of law. This makes it especially important to make sure the Recipient of this contract and the Company issuing it have a clear line of communication and agree as to the terms in this paperwork.

Complete the document with the employee and provide copies for each party to ensure matching and safe record keeping.

Laws – No State Statutes

How to Write

1 – The Introduction To This Contract Requires Some Input

The first article, “The Purpose,” will introduce an agreement between a business entity/employer and its contractor or employee set to protect the company’s Trade Secrets and proprietary information. In order to establish such a premise, document the name of the Business Entity presenting this contract on the blank space after the term “…Relating To The Business Of”To continue this report, furnish the Recipient’s Full Name on the second available space in this statement.

2 – Several Points To This Contract Will Need To Be Reviewed And Approved

The Business Entity should be prepared to specifically discuss what its expectations to prevent unfair competition from the Receiving Party. The second article, titled “2 Non-Compete/Disclosure,” supplies an area where the results of this discussion can be clearly and quickly documented using a checklist. Here, you must place a check mark or an “x” in each checkbox statement defining the issuing entity’s expectations of the Receiving Entity.

The “Business Practices” should be checked if the Issuing Entity expects the Receiving Party to restrict its operations from the manner of competition defined within it.Mark the second checkbox, “Client/Customer,” if the Receiving Party will refrain from using any of the Issuing Entity’s Clients’ (past/present) information in a manner that results in unfair competition with the Issuing Entity.The third statement’s checkbox, “General Competitors,” defines restrictions regarding contact and business between the Receiving Entity and the Competitors of the Issuing Entity. Check this box if its details should be included in the scope of this contract.If the Issuing Entity will gain a promise from the Receiving Entity to not do business or deal with “Specific Competitors,” named by the Issuing Entity, then list these Competitors on the blank spaces in the fourth statement and fill in the checkbox.The Receiving Entity may have agreed to avoid working (in any capacity) with any “Employees” of the Issuing Entity. If so, the Issuing Entity may fill in the final checkbox.

3 – Declare When This Agreement Must Be Followed By The Recipient

This contract will need to have a definitive lifespan to how long its terms will apply. This is referred to as the “Effective Period.” State how long these terms will be in Effect on the blank space in the first sentence in the third section (“3. Time Period”). Then, mark the first box if this time period begins with the Execution of this document or mark the second box if it begins only when the professional relationship between Company and Recipient is considered over (by both parties).

4 – Any Option To Purchase An Escape Must Be Solidified By The Time Of Signing

The Issuing Entity has the option of offering a Purchase Option. If the Issuing Entity will release the Receiving Entity from the promises made here in exchange for a sum of money, then fill out the sum the Receiving Entity must pay to nullify this paperwork on the blank lines in the first choice of “4. Purchase Option.” Otherwise, the Issuing Entity may mark the second box so that no Purchase Option will be made here.

5 – The Governing Authority Of This Paperwork Must Be Supplied

Next, we should report where this document shall be active. In “5. Jurisdiction” fill in the State (and if possible the localities) whose laws hold governance over the terms in this contract.

6 – Finalizing This Paperwork Requires Both The Company And Recipient

Both parties must completely review the remainder of this document. Once the parties agree, then they may acknowledge the agreement by providing their respective signatures, printed names and titles (if any) and date of signatures in mm/dd/yyyy format. We will begin finalizing this contract by supplying the Date this contract will be executed in “13. Entire Agreement.” Find the three blank spaces in the last statement of this section then use them to record the Calendar Day, Calendar Month, and Calendar Year of this contract’s Execution Date.

Now the Issuing Entity will need to tend to the column in the lower left-hand corner of this page. Several blank spaces have been placed under the column heading “The Company.” Here, the “Signature” line will need to be signed. The Issuing Entity or a Representative authorized to sign this contract on its behalf should sign this line then present the printed version of the signature party’s name on the blank space below the signature. If this Signature Party holds a Title this should be recorded on the same line as its Printed Name immediately after its Printed Name. The “Date” line will accept the Signature Date of the Issuing Entity. This is the Date the Issuing Entity will officially execute its end of this paperwork.

The Receiving Entity will also need to play a part in executing this document by signature. First, he or she must provide his or her Signature and Printed Name using the first two blank spaces under the heading “The Company.” On the last blank space, the Signature Party’s Date of Signature must be presented as its Signature Date.