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Company secrets and valuable business knowledge can be protected by noncompete agreements between employers and their employees. These contracts or clauses are legal agreements that dictate what company information can and can't be used by current or former employees. Read More »
Source: /guides/noncompete-agreements-19574/
Non-compete agreement forms help small businesses safeguard their trade secrets. Companies can protect recipes, client base, industrial and manufacturing secrets that competitors could use to gain an edge in business. Read More »
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Do you worry that you might spend a lot of time and money training your employees, giving them the opportunity to gain experience in a new field, and help them make contacts throughout your industry, only to find that they leave your company to take a job with one of your competitors? Noncompete agreements can protect your business from this situation by preventing employees from accepting jobs within a certain geographic region or time period of their employment with your business.
Noncompete agreements have been shown legally binding in numerous contexts. Generally, courts have ruled that these agreements, which are also known as noncompete clauses and covenants not to compete, as long as the terms are reasonable. Essentially that means that your business only has a legal argument within a certain timeframe. If an employee decides to join a competitor ten years after leaving your company, then the courts will likely rule that this action is acceptable. A binding agreement that lasts a few months, or even a few years, however is acceptable in many cases.
Business.com can help you learn more about protecting your company's intellectual assets. Start your research into this area by visiting the websites posted on the left.