Noncompete Clauses

The terms of a noncompete clause, which are often referred to as “covenants not to compete,” can vary. They typically lay out a specific geographic area where the seller cannot create a competing business, although with the advent of businesses based primarily online, the geographic territories are becoming broader. A covenant not to compete will also list the length of time that the seller must refrain from starting a similar business. Read more in this useful business article.