Contracts Have Existed to Help Term Paper

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This allows them to have an advantage if litigation becomes inevitable.

5. Non-Competition Clause a/k/a Covenant Not to Compete Clause - Most companies will attempt to protect their intellectual capital from competitors by having employees sign a non-competition agreement or, alternatively, by including a non-competition clause as part of an employment contract. Such agreements restrict an employee from joining forces with a competitor or setting up his or her own competing business for some period of time within a particular territory (geographical or otherwise). These agreements have become so common in the technology sector that most people use them without much attention to their content. This is wrong, and a lot of companies come to pay dearly for such a careless approach. It is important t o note that not only do companies dealing with intellectual property use such an agreement. This clause is utilized any time a company wants to insure that their information is safe and secure and that an individual cannot use this information, technology etc. within another company or individually outside of the company.

Entire Agreement Clause - a majority of contracts contain an entire agreement clause. Also known as an integration clause or merger clause, an entire agreement clause declares that the contract represents the complete and final agreement, thereby protecting the contracting parties. In other words, the contract supersedes any prior agreements the contracting parties might have made in regards to the subject of the contract.

Force Majieure Clause a/k/a Acts of God Clause - Force Majeure literally means "greater force.

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" These clauses excuse a party from liability if some unforeseen event beyond the control of that party prevents it from performing its obligations under the contract. Typically, force majeure clauses cover natural disasters or other "Acts of God," war, or the failure of third parties -- such as suppliers and subcontractors -- to perform their obligations to the contracting party. It is important to remember that force majeure clauses are intended to excuse a party only if the failure to perform could not be avoided by the exercise of due care by that party.

It is easy to find examples of these clauses in various documents around the house and on the web. From auto loan agreements, student loan forms, apartment rental agreements, mortgage papers, personal loan documents, employment agreements, tax forms, etc. These are all examples that show these clauses and more, it is even possible to find a number of these clauses on the same agreement. For example an old employment document not only had an arbitration clause, there was also a non-compete clause and an entire agreement clause. http://www.investorwords.com/1744/escalation_clause.html

http://www.usam.com/services/arb_clause.shtml http://www.usamwa.com/med_clauses.htm

http://www.yourdictionary.com/choice-of-law-clause http://www.heydary.com/lawyers/ontario/toronto/non-competition-agreements-p.html

http://www.allbusiness.com/legal/contracts-agreements/536-1.html

http://www.library.yale.edu/~llicense/forcegen.shtml.....

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