Restraint of trade,
Definition of Restraint of trade:
Illegal contract that in any way colludes to damage anothers opportunity or ability to carry out a business.
Legal contract between a buyer and a seller of a business, or between an employer and employee, that prevents the seller or employee from engaging in a similar business within a specified geographical area and within a specified period. It intends to protect trade secrets or proprietary information but is enforceable only if it is reasonable with reference to the party against whom it is made, and is not contrary to the public policy.
Action that interferes with free competition in a market.
Synonyms of Restraint of trade
Arrest, Arrestation, Balance of trade, Big business, Business, Business dealings, Check, Commerce, Commercial affairs, Commercial relations, Constraint, Control, Cooling, Cooling down, Cooling off, Curb, Curtailment, Dealing, Dealings, Deceleration, Fair trade, Free trade, Hindrance, Industry, Inhibition, Injunction, Intercourse, Interdict, Legal restraint, Market, Marketing, Mercantile business, Merchantry, Monopoly, Multilateral trade, Prohibition, Protection, Protectionism, Protective tariff, Rationing, Reciprocal trade, Rein, Restraint, Retardation, Retrenchment, Self-control, Slowing down, Small business, Tariff wall, The business world, The marketplace, Thought control, Trade, Traffic, Truck, Unilateral trade
How to use Restraint of trade in a sentence?
- The original Sherman Anti-Trust Act of 1890 forbade any action that was a ‘conspiracy in restraint of trade or commerce among the several States or with foreign nations.’.
- We had a restraint of trade between us, which was a contract, so there were rules about how we conducted business.
- The restraint of trade was enforced years later as the expert ended up working at a company in the same industry.
- It is common for an employee to be compelled to sign a restraint of trade agreement as a condition of employment to keep trade secrets from being leaked to competitors.
Meaning of Restraint of trade & Restraint of trade Definition