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Protecting company interests through noncompete agreements

| May 29, 2019 | Trade Secret And Non-Compete Disputes |

There may be a multitude of companies in Florida and elsewhere that seek to protect their business interests by requiring employees to sign noncompete agreements. However, there are a variety of scenarios in which a similar type of agreement might be deemed invalid. Business owners who wish to safeguard their interests could find it helpful to seek guidance on how to create enforceable noncompete agreements.

For a noncompete agreement to remain enforceable, there must be a valid reason for the agreement to exist. In some cases, business owners may implement a noncompete agreement to protect against the unauthorized sharing of sensitive company secrets and information. The agreement must also provide the other party with some level of benefit, whether in the form of an initial job offer for prospective employees or a pay raise for existing ones.

In addition, the terms within a noncompete agreement must be reasonable, lest the agreement be deemed unenforceable. Creating reasonable terms pertaining to how long the agreement will persist once employment ends or what types of companies will be considered as competitors could prove essential. The longer the agreement runs or the broader the list of competition is, the more likely the agreement could come under scrutiny.

Noncompete agreements could prove vital to protecting company secrets and operational procedures. Business owners who wish to develop agreements to safeguard their interests could find it helpful to speak with an attorney early on for guidance in covering every aspect of the creating a noncompete agreement. An attorney in Florida can address all a client’s concerns and assist him or her in navigating the process.