Business Terms and Jargon Explained
What is Restraint of trade
This is a clause in an employment contract that prevents an employee when they end their contract not to set up in competition with their ex-employer. This can be a restraint in the type of business they are in or/and within a certain distance.
Restraint of trade must be reasonable or are not enforceable.
A restraint of trade may be entered into when someone sells his or her business.
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Term created / updated 2014-10-27 19:07:55
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