Definitions for "COVENANT NOT TO COMPETE"
A clause in an agreement where one party promises not to offer to sell or produce the same goods and services in proximity to the other party.
The agreement by the seller of a business, not to enter into competition with the buyer of the business within a specific area for a specific period of time.
a contract in which one party agrees not to engage in certain activities that are in competition with another party, usually a former employer
a disfavored contract in restraint of trade and is unenforceable unless it meets certain statutory requirements