More and more businesses are seeking non-compete, non-solicitation agreements from all their key employees. This prevents former employees from joining competitors or setting up a new company in direct competition with their former employer, stealing its customers and using the same business methodologies and trade secrets.
Do you have legal questions regarding non-compete agreements and business law? Our business law attorneys can help. Contact a business lawyer in your area today to learn more about how you can receive legal representation regarding non-compete agreements and your business.
Here's a list of all such actions an attorney can take to come up with a no-compete agreement and make sure it sticks:
A lawyer will be required not just for drafting the clause into the employee contract, but also for updates or for enforcing it afterwards in case an employee breaches the contract. That's not as easy as it sounds, because courts sometimes side with employees who claim the no-compete contract is too restrictive.
The lawyer has to come up with an iron-clad agreement and make sure the employee clearly understands what it means – after quitting, the employee cannot find similar work with another company in the same sector for a specific period. Furthermore, the employee agrees to not solicit the employer's clients and employees for a specific period after quitting. If the employee ignores the agreements and transfers valuable trade secrets to a new employer, then the lawyer has to be ready to file suit not only for breach of contract, but also for corporate espionage and theft against the new employer.
Would you like to know more about the laws surrounding non-compete agreements and businesses? Our business lawyers can help. Contact a business law attorney near you today for more information.
Did you know?
Some states do not allow non-compete agreements with existing employees unless something of value is provided in return.
Many states require employers to provide some new benefit or perk before they can ask for non-compete agreements from current employees.