Competing Enterprises Clause Samples
The Competing Enterprises clause restricts one or both parties from engaging in business activities that directly compete with the other party’s core operations. Typically, this clause outlines specific industries, products, or services that are considered competitive, and may set geographic or temporal limits on the restriction. Its primary function is to protect a party’s business interests by preventing conflicts of interest and reducing the risk of unfair competition during and sometimes after the contractual relationship.
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Competing Enterprises. While employed by the Company, except on behalf of the Company, Executive will not directly or indirectly, whether as an employee, officer, director, stockholder, partner, proprietor, associate, representative, consultant, or in any capacity whatsoever engage in, become financially interested in, be employed by or have any business connection with any other person, corporation, firm, partnership or other entity whatsoever which compete directly with the Company, throughout the world, in any line of business engaged in (or planned to be engaged in) by the Company; provided, however, that anything above to the contrary notwithstanding, he may own, as a passive investor, securities of any public competitor corporation, so long as his direct holdings in any one such corporation shall not in the aggregate constitute more than 1% of the voting stock of such corporation.
Competing Enterprises. While employed by the Company, except on behalf of the Company, Executive will not directly or indirectly, whether as an officer, director, stockholder, partner, proprietor, associate, representative, consultant, or in any capacity whatsoever engage in, become financially interested in, be employed by or have any business connection with any other person, corporation, firm, partnership or other entity whatsoever which were known by Executive to compete directly with the Company, throughout the world, in any line of business engaged in (or then currently planned to be engaged in) by the Company; provided, however, that anything above to the contrary notwithstanding, Executive may own, as a passive investor, securities of any public competitor corporation, so long as Executive’s direct holdings in any one such corporation shall not in the aggregate constitute more than 2% of the voting stock of such corporation.
Competing Enterprises. While employed by the Company, except on behalf of the Company, Key Employee will not directly or indirectly, whether as an officer, director, stockholder, partner, proprietor, associate, representative, consultant, or in any capacity whatsoever engage in, become financially interested in, be employed by or have any business connection with any other person, corporation, firm, partnership or other entity whatsoever which were known by Key Employee to compete directly with the Company, throughout the world, in any line of business engaged in (or then currently planned to be engaged in) by the Company; provided, however, that anything above to the contrary notwithstanding, Key Employee may own, as a passive investor, securities of any public competitor corporation, so long as Key Employee’s direct holdings in any one such corporation shall not in the aggregate constitute more than 2% of the voting stock of such corporation.
Competing Enterprises. During the Term of this Agreement and for a period of two( 2) years thereafter, Supplier shall not:
(a) Use or disclose any of Buyer’s Confidential Information in the course of engaging in any activity that directly or indirectly competes with Buyer’s business activities, including but not limited to, Buyer’s direct or indirect consultation with, purchase of, provision of services for, or any other connection with any enterprise that is engaged in efforts to market and sell goods or products that are similar to or competitive with the Products (the “Restricted Activities”); or
(b) Directly or indirectly through another person: (a) induce or attempt to induce any customer, supplier, licensee or other business relation of Buyer (the “Covered Group”) to reduce, limit, and/or cease doing business with Buyer or in any other way interfere with the relationship between Buyer and any member of such Covered Group (including by making any negative or disparaging remarks or communications regarding either Buyer or any member of the Covered Group); or (b) call on, solicit, market, and/or service any member of the Covered Group with the direct or indirect intent of selling or attempting to sell Restricted Activities.