RESTRAINT OF TRADE DEED

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company constiution

What is included

An Employee Restraint of Trade Deed is a legal document used to formalize restrictions on an employee’s actions both during and after their employment to protect the employer’s business interests. This deed typically includes non-compete, non-solicitation, non-recruitment, and confidentiality clauses. The deed is often used when specific restrictions need to be highlighted and given legal weight, usually separate from or in addition to the standard employment contract.

 Restraints in a legal context restrict a person doing something for a certain time in a certain
territory. They are most commonly seen in the context of a sale of business or employment
situations. Restraints of trade have been interpreted by the courts restrictively.

Employee restraint of trade deed. To be used when hiring an employee. Includes provisions dealing with:

  • Definitions
  • Interpretation
  • Non-Enticement
  • Non-Solicitation
  • Conflict Of Interest
  • Counterparts
  • Further assurance
  • Governing law and jurisdiction
  • Notices
  • Service of notices
  • Severability
  • Survival  & merger
  • Variation
  • Waiver

Intended to be used in an employment context, to protect the goodwill and trade secrets of the employer.

5 pages long.

 

 

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RESTRAINT OF TRADE DEED
What is a Restraint of Trade Deed

An Employee Restraint of Trade Deed is a legal document used to formalize restrictions on an employee’s actions both during and after their employment to protect the employer’s business interests. This deed typically includes non-compete, non-solicitation, non-recruitment, and confidentiality clauses. The deed is often used when specific restrictions need to be highlighted and given legal weight, usually separate from or in addition to the standard employment contract.

Key Elements of a Restraint of Trade Deed

Key Elements of an Employee Restraint of Trade Deed

  1. Parties Involved:

    • Identification of the employer (company name, address, contact information) and the employee (name, address, contact information).
  2. Recitals:

    • Background information explaining the context and reasons for the restraint of trade.
  3. Definitions:

    • Clear definitions of key terms used in the deed, such as “Confidential Information,” “Competitive Business,” “Clients,” etc.
  4. Non-Compete Clause:

    • Restrictions on the employee from engaging in similar business activities within a specified geographic area and for a certain period after employment ends.
  5. Non-Solicitation Clause:

    • Prohibition on soliciting the employer’s clients, customers, or suppliers after leaving the company.
  6. Non-Recruitment Clause:

    • Restriction on hiring or attempting to hire the employer’s current employees after the employee’s termination.
  7. Confidentiality Clause:

    • Obligations to maintain the confidentiality of the employer’s proprietary information both during and after employment.
  8. Consideration:

    • Description of what the employee receives in exchange for agreeing to the restraints, such as employment or additional compensation.
  9. Duration and Scope:

    • Specific time periods and geographic limitations for each restriction to ensure they are reasonable and enforceable.
  10. Severability:

    • Clause stating that if any part of the deed is found to be unenforceable, the remaining parts will still be in effect.
  11. Governing Law:

    • The legal jurisdiction that governs the deed.
  12. Dispute Resolution:

    • Procedures for resolving any disputes that arise between the parties, such as mediation or arbitration.
  13. Signatures:

    • Signatures of the employer and the employee, along with the date of signing.
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