The Standard Non-Compete Agreement is essential for businesses in Singapore seeking to protect their legitimate interests, including trade secrets, customer relationships, and confidential information. This document establishes post-employment restrictions that must meet Singapore's legal requirements for reasonableness and legitimate business protection. It typically includes specific terms about duration, geographical scope, and prohibited activities, while ensuring compliance with Singapore employment law and competition regulations. The agreement is particularly relevant for employees with access to sensitive information or significant customer relationships.
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Key Requirements PROMPT example:
Standard Non Compete Agreement
"I need a Standard Non Compete Agreement for a senior software engineer leaving our Singapore-based fintech company on March 1, 2025, with restrictions covering Southeast Asia for 12 months and specific provisions about not working on blockchain technology."
1. Parties: Identification of the employer and employee with full legal names and addresses
2. Background: Context of the agreement and employment relationship
3. Definitions: Key terms used throughout the agreement including 'Confidential Information', 'Restricted Business', 'Territory'
4. Restrictive Covenants: Core non-compete obligations including duration, geographical scope, and prohibited activities
5. Duration: Time period for which restrictions apply
6. Consideration: Benefits provided in exchange for non-compete obligations
7. Governing Law: Specification of Singapore law as governing law
1. Garden Leave: Terms for paid leave during notice period - recommended for senior executives or when immediate competition risk is high
2. Non-Solicitation: Restrictions on approaching customers or employees - recommended when customer/employee relationships are crucial
3. Severability: Provisions for partial enforcement if parts are found invalid - recommended when agreement covers multiple jurisdictions or complex restrictions
1. Restricted Territory: Detailed list of geographical areas covered by restrictions
2. Restricted Business: Detailed description of prohibited business activities
3. Consideration Details: Breakdown of compensation or benefits provided
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