What purpose does a Non Compete Agreement serve over a Non Disclosure Agreement or a Trade Secret Agreement?
From India, New Delhi
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From India, New Delhi
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NDA / Service Commitment Agreement / Non-Compete Agreement
This is done by the employer to ensure that the employee will not become a competitor or disclose the trade secrets learned during employment, which hold commercial value. Generally, this agreement will be renewed every year or once every two years as desired. However, once the employee resigns from the company without breaching the agreement for a year or so, the employer has absolutely no right to interfere in their post-resignation employment or growth (Judgment by the Supreme Court).
In general, such agreements aim to enforce compliance with the rules and commitment.
Regards,
Chandru
From India, Madras
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41This is done by the employer to ensure that the employee will not become a competitor or disclose the trade secrets learned during employment, which hold commercial value. Generally, this agreement will be renewed every year or once every two years as desired. However, once the employee resigns from the company without breaching the agreement for a year or so, the employer has absolutely no right to interfere in their post-resignation employment or growth (Judgment by the Supreme Court).
In general, such agreements aim to enforce compliance with the rules and commitment.
Regards,
Chandru
From India, Madras
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Confidentiality agreement.doc