A South Dakota Non-Compete Agreement describes specific conditions that were previously agreed upon between a business and a second party. This other party can be an employee, a potential employee, a business partner, or an individual contractor that was hired to finish a certain task. The individuals listed may at some point need access to confidential information so that they can work accordingly and set out tasks set before them. This information is often highly confidential and must remain within the walls of the business.
For the company to safeguard the business and ensure that former employees do not disclose any company secrets, this document is created and signed using a South Dakota Non-Compete Agreement Template.
In South Dakota, if the agreement is found to limit employment and career opportunities for the former employee, the agreement will be considered unlawful as it is unfair on the employee. Such agreements cannot be in place for more than two years and become automatically annulled if a business is declared bankrupt.
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