restraint of trade

Definitions

Banking

  • noun a situation where employees are not allowed to use their knowledge in another company on changing jobs
  • noun an attempt by companies to fix prices, create monopolies, or reduce competition, which could affect free trade

Economics

  • noun a situation in which a worker is not allowed to use his or her knowledge in another company on changing jobs

Law

  • noun a situation where an employee is not allowed to move to another job in the same trade because the experience acquired with the present employer might be sensitive or unfairly beneficial to the new employer
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