WHY A NON-COMPETE AGREEMENT?
How do you protect your investment of time, effort and money on training employees and preventing them from leaving with your confidential contacts, processes and information?
You need a non-compete agreement when you share ideas and business practices with employees, partners, and contractors, when an employee with access to trade secrets leaves your company, either because the employee quit or has been fired, because the employee could take this information and use it to personal advantage. A non-compete agreement helps make sure the people you work with, don't wind up becoming (or working for) the competition. Briefly, a non-compete agreement means that an employee will not compete with their ex-employer.
Obviously, a non-compete agreement can keep your business from losing employees, but it can also protect your company's confidential information.
This agreement is a document used to protect employers from partners, employees, contractors, and other individuals with access to their business secrets and practices using that access to leave the company to start their own competing business in the same industry. By signing a non-compete agreement, an employee agrees that they will not go to work at a rival company if they quit.
This agreement contains essential elements. Here are some of the key provisions:
Forwards, we will present ten reasons why businesses should use non-compete agreements:
In short, there are some advantages using non-compete agreements that may not be apparent until it is too late. Small business owners should think about protecting their business in advance.
It takes a knowledgeable attorney to draft an agreement that benefits your unique business, playing to its particular strengths and helping to overcome its unique challenges.
If you want to avoid having employees quit to start their own competing business, or steal your client lists and join a competitor, we suggest that you use a non-compete agreement.
If you would like to start using this tool, feel free to contact us and we do our best to shield you from risk with a non-compete agreement.
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