Non-Competition Agreement Legal Meaning and Definition

Here is a simplified definition of the legal term Non-Competition Agreement.

Non-Competition Agreement (Noun)

A 'Non-Competition Agreement' is a legal contract engaging an employee to not compete with their previous employer post their employment termination. Usually, it includes a specific duration and geographical location where the ex-employee is restricted from performing similar job functions or opening a similar business, to safeguard the business interests, trade secrets, and customer relationships of the ex-employer.