Covenant Not To Compete

Business, Legal & Accounting Glossary

Definition: Covenant Not To Compete




What is the dictionary definition of Covenant Not To Compete?

Dictionary Definition


n. a common provision in a contract for sale of a business in which the seller agrees not to compete in the same business for a period of years or in the geographic area. This covenant is usually allocated (given) a value in the sales price.


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/covenant-not-to-compete/
Modern Language Association (MLA):
Covenant Not To Compete. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 24, 2021 https://payrollheaven.com/define/covenant-not-to-compete/.
Chicago Manual of Style (CMS):
Covenant Not To Compete. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/covenant-not-to-compete/ (accessed: September 24, 2021).
American Psychological Association (APA):
Covenant Not To Compete. PayrollHeaven.com. Retrieved September 24, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/covenant-not-to-compete/

Definition Sources


Definitions for Covenant Not To Compete are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 27th April, 2020 | 0 Views.