Wyoming Non-Compete Agreement Template

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The Wyoming Non-Compete Agreement Template supplies the required wording and structure to bind a signature party to the limitations and restrictions a Company needs imposed for its own protection. This template will provide a Company using it the versatility and power to name certain behaviors that would violate its trust then forbid the signature party from conducting itself in such a manner. The primary concern will be to prevent the signature entity from using any of the Company’s procedures, Trade Secrets, or private information to compete with the Company or support a Company’s competitors. There will be quite a bit of standardized language that will apply to all situations and address the security concerns involved however, the information identifying the participating parties as well as the wishes of the Company will need to be supplied. Topics discussed will include Confidentiality, Permitted Actions, Remedies and a host of other subjects relevant to the security of a Company’s competitive standing in the market. All such topics are often discussed when a new individual is added to a business’ roster or be exposed to a business’ Trade Secrets or confidential information and a need for confidence needs to be solidified.

You should obtain this template using the links on this page. Review it carefully and make sure the information being entered has been verified as an accurate representation of each party involved and the Company’s restrictions. Present it to all signature parties while allotting enough time for a comprehensive review.

There is no statute or regulation that governs non-compete agreements in the state of Wyoming. The non-compete agreement must be in writing, part of a contract for employment, based on a reasonable consideration, reasonable in duration and geographic limitations and consistent with public policy. Non-compete agreements are generally disfavored but are enforced if the contract is fair, reasonable in duration and geographic area, and necessary to protect a legitimate business interest of the employer.

Laws – None

How to Write

1 – Access The Contract Form In The File Format You Wish To Work With

This form may be found on this page as a Word document, ODT file, or Adobe PDF file. You may open this form in any of these formats provided you have the appropriate software. If necessary, you may also open this form as an Adobe PDF, using an up to date browser, then print it to fill out manually.

2 – Clearly Present The Two Signature Parties

The first paragraph, under the heading “1. Purpose,” will require the Full Legal Name of the Company using this form on the first blank line and the Full Legal Name of the Recipient on the second blank line. The Company listed on the first blank line is the party that requires a promise from the Recipient and seeks to keep its position competitive through this form. The Recipient is the party that shall agree to the limitations of behavior imposed by this contract.

3 – The Recipient’s Limitations Must Be Detailed

After supplying each participant’s information, we will need to discuss precisely what the Company intends the Recipient to refrain from doing after this contract is signed. In “2. Non-Compete/Disclosure,” we will address several paragraph descriptions. Each paragraph description that defines a limitation the Recipient must agree to should be check marked while each paragraph description that defines what the Recipient may do should be left unmarked.

Mark the check box corresponding to “Business Practices,” if the Company has determined the Recipient must refrain completely from engaging in any business where products/services like that provided by the company are being dealt with.The Company may also choose to prohibit the Recipient from contacting and engaging with its “Clients/Customers” both current and former by marking the second check box. This choice also prohibits the solicitation of any of these entities for a third party in the same industry.The paragraph description labeled “General Competitor(s)” will enable the Company in forbidding the Recipient from conducting any business with any competitor who supplies a similar product/service the Company does. Mark the check box here to restrict the Recipient from such activities.The next paragraph description serves to allow the Recipient to deal with businesses/individuals but wishes to forbid the Recipient from conducting business with specific entities. Mark the check box labeled “Specific Competitor(s)” to forbid the Recipient contact with specific entities then use the blank lines provided to list the Full Legal Name of any business/individual the Recipient may not do business with.The paragraph description labeled “Employees” will restrict the Recipient from associating with any individuals either in the Company or Partnered with the Company. To enact this restriction, mark the fifth check box.

4 – Present The Determined Period Of Effect For This Contract

The terms of this document must have a defined beginning. That is, when they become active must be reported before this paperwork is signed. Enter the length of time these terms will apply to the Recipient’s behavior on the blank line between the words “…Warrants And Guarantees For the” and “Period Following The.” This may be reported as a number of years and/or months.If this contract becomes effective on the Signature Date, then mark the first check box below the words “Check One.” If it only goes into effect when the Company and Recipient’s relationship ends, then mark the second check box below the words “Check One.”

5 – Report If The Company Will Allow An Option To Purchase

In some cases, a Company may be willing to release the Recipient from the limitations and restricted imposed by this paperwork in exchange for a sum of money. Whether the Company wishes to provide such an option or not must be documented here. Locate the heading “4. Purchase Option.” If the Company will allow the Recipient relief from these terms by releasing it from this agreement, then mark the first check box. In addition, the exact dollar amount the Recipient must pay should be written out on the first blank space then recorded numerically in the second blank space. Otherwise, mark the second check box if the Company has no intention of providing this option.

6 – Record The Jurisdiction Whose Laws Shall Apply To This Paperwork

Now, look for the heading “5. Jurisdiction” then, enter the name of the locality whose laws will apply in this matter on the blank line provided.

7 – The Company And Recipient Must Execute This Contract Together

The final requirement of this contract is fairly standard. In order for the terms to apply to the Company and Recipient, each will have to show their comprehension and agreement through a signature. Before such items are supplied, the Signature Date will need to be reported in the last statement of this contract. Find the last statement, then enter the Calendar Day, Month, and Year when this contract is being executed.Below the execution statement will be two individual columns so that both the Company and the Recipient may have a separate area to work with. In the “Company” column, an Authorized Representative of the Company must fill in the blank lines labeled “Signature,” “Printed Name And Title,” and “Date” with his or her Signature, Printed Name, Title with the Company, and Date he or she signed it.In the next column, the “Recipient must sign then print his or her Name and report the Date of Signing on the blank lines labeled “Signature,” “Print Name,” and “Date.”