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English - English
Definition of noncompete clauses in English English dictionary
- plural form of noncompete clause
- noncompete clause
- A provision within a business agreement or employment contract which stipulates that the contracting party must abstain from competitive practices not in the interests of an identified firm, such as starting a competing business or accepting a job with a competitor, and often extending for a period of time after the termination of the original employment or other business relationship
When Pizza Hut's owner, Tricon (now called Yum Brands), tried to revise his franchise agreement in 1999 to put in a noncompete clause stipulating that Heinecke needed permission to operate other food businesses, Heinecke, who by then already ran a number of fast-food chains, sued for breach of contract.
Related Terms
noncompete clauses
Turkish pronunciation
nänkımpit klôzızPronunciation
/nänkəmˈpēt ˈklôzəz/ /nɑːnkəmˈpiːt ˈklɔːzəz/
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