Non-Competition Covenant - FOLIO Ontology

Identification

IRI:

https://folio.openlegalstandard.org/R86B9DI1HdnEmOAclhBcRd1

Label Non-Competition Covenant

Preferred Label N/A

Identifier N/A

Alternative Labels

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Definition

A "Non-Competition Covenant" is a contractual agreement in which one party agrees not to engage in business activities that would compete with another party, typically for a specified period and within a defined geographic region. Such covenants are often used in employment contracts, business sale agreements, and partnerships to protect trade secrets, customer relationships, and other valuable business assets from potential competition by the restricted party.

Class Relationships

Sub Class Of

• Post-Closing Covenants

Is Defined By

N/A

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Additional Information

Metadata

Comment

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Description

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Notes

• None

Editorial Information

History Note

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Editorial Note

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Deprecated

No

Source and Origin

No source or origin information available