When a business finds success in it’s area of practice, it will of course want to protect that success. One of the most common ways to go about this is to file a non-compete agreement. A non-compete agreement essentially prevents another business from entering the same field and creating a competitive business environment with you. This can either make or break the success that someone finds in their business venture.
What happens oftentimes is that a former employee will try to break away from a company and become the competition of the business that used to employ them. It is important to have your employees sign a non-compete agreement to protect your company. Some of the provisions that may be included in a non-compete agreement can consist of the agreement that when an employee leaves the company, they will not take any secrets or client lists, among many other things. Another example of a component of a non-compete agreement can include not starting a similar business within a certain geographic range of the original business. You will have to have the court take a look at your agreement to see if it is reasonable. If you were going after a certain geographic scope, it would not be reasonable to claim the entire state as your own. Perhaps, it would be more reasonable to request that the new business not be formed within a 15 mile radius of the existing company.
There are many different provisions that can be considered in a non-compete agreement in order to protect an existing company and the success they have worked so hard to build for themselves. When drafting a non-compete agreement, you should consult with an experienced business law attorney who can guide you in the right direction and inform you of which provisions would be wise to include.
If you need someone to assess your case, guide you through your options, and diligently advocate on your behalf, you should contact The Salvo Law Firm, P.C.