The Louisiana Non-compete Agreement is a legal document usually signed by a company and recipient before starting their professional collaboration to protect the company from having its confidential information used against it. The non-compete agreement template also prohibits the recipient from conducting several business practices. The parties define a validity period during which the agreement terms stay effective, jurisdiction, and other details. For instance, the basic NCA document may come into force on its signing date or after employment termination.
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Confidential information is considered, but not limited to:
The employee should disclose the received information only on a need-to-know basis to the company’s personnel and top management, including:
The Recipient may wish to purchase the right to void the agreement and release their responsibilities at any time by delivering a prescribed amount of money in US dollars to the former employer. If the company is against such an option, they should reflect it in the NCA.
If the company finds out that the recipient has revealed any business-related confidential data, the latter should be immediately informed about it. Once the recipient breaches the non-compete agreement, they have to reimburse the company for all the losses, expenses, and damages caused by their wrongful act.
Both parties to the deal should study the paper carefully before appending their signatures. By signing and dating the document, the company’s representative and the recipient willfully claim to follow the agreement’s terms until its expiration or termination.
When the contract is no longer effective (whether upon expiration or by the company’s request), the recipient should return all business-related documents to the employer, along with all their existing copies.
The state policy on NCA creation and authorization is relatively strict. According to the Louisiana Revised Statutes (Section 23:921), auto salespeople and real estate broker licensees (with special requirements) are exempt from signing an NCA.
Another local restriction states that non-compete and non-solicitation provisions are only valid if limited to specific parishes, municipalities, or county parts. Usually, the covenant does not exceed two years from employment termination.
Different popular Louisiana templates available for download here and that can be personalized in our simple document constructor.