Right, the standard contract term is called &#x27;consideration&#x27;, meaning that for a contract to be valid and enforceable, each side must be giving up something of value as part of the transaction.<p>There&#x27;s a pretty good summary here:<p><a href="http:&#x2F;&#x2F;www.wolfbaldwin.com&#x2F;Employment-Articles&#x2F;Non-Compete-Covenants.shtml" rel="nofollow">http:&#x2F;&#x2F;www.wolfbaldwin.com&#x2F;Employment-Articles&#x2F;Non-Compete-C...</a>