oboloo Glossary

Non-Solicit Agreement

oboloo Glossary

Non-Solicit Agreement

A Non-Solicit Agreement is a legally binding contract between two or more parties. This agreement prohibits one or more of the parties from attempting to negotiate, induce, or solicit any type of business from the other party(s). The purpose of these agreements is to protect businesses from unfair competition by preventing them from poaching clients and/or employees. Non-Solicit Agreements are an essential part of many corporate businesses, as they can prevent damaging situations such as client poaching or trade secrets being leaked. By signing a Non-Solicit Agreement, companies can feel secure while continuing to do business with each other.