Did you know?

These days many companies will ask you to sign a so-called "noncompete" for the case that you should leave the company.

This is a noncompetition agreement (or covenant), where you promise not to compete with your former employer for a specific period (usually a year or two) and within a particular business or geographic area.

A standard noncompete is pretty comprehensive, it prohibits you from being an

employee
consultant
officer
director
owner
lender
principal
agent
dealer
partner
distributor
respresentative
contractor
broker
trustee

of a competing firm. Some noncompetes even stop you investing in a competitor.

(source: "Before you sign" Fortune, April 2002)