Trade secrets and What does non-compete mean?
Trade secrets are "not known to the public, can bring economic benefits to the right holder, are practical and approved by the right holder" Technical information and business information that are kept confidential."
Non-competition is a non-competition clause stipulated in the labor contract, intellectual property rights ownership agreement or technology confidentiality agreement by the employer to the employee who is responsible for keeping the employer's business secrets. That is, when the employee terminates or cancels the labor contract Within a certain period of time, the employee shall not work for an employer that produces similar products, operates similar businesses, or has other competitive relationships, nor may he produce similar products or operate similar businesses that competes with the original unit.
"Labor Contract Law of the People's Republic of China" Second Article 13 The employer and the employee may agree in the labor contract to keep the employer's business secrets and confidentiality matters related to intellectual property rights.
For employees who have a confidentiality obligation, the employer can agree on non-competition clauses with the employee in the labor contract or confidentiality agreement, and agree that after the labor contract is terminated or terminated, Economic compensation will be given to workers on a monthly basis within the non-compete period. If an employee violates the non-compete agreement, he or she shall pay liquidated damages to the employer as agreed.
Article 24 Personnel subject to non-competition restrictions are limited to senior managers, senior technical personnel of the employer and other persons with confidentiality obligations personnel. The scope, territory, and duration of non-competition shall be agreed upon by the employer and the employee, and the agreement on non-competition shall not violate the provisions of laws and regulations.
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