When it comes to taking care of yourself, having access to an incredible lawyer is absolutely essential. A few years back, I was accused of a crime that I didn't commit, and it was absolutely devastating. The only way that I got through the ordeal was by finding an excellent general attorney who could represent me. I worked hard to find the right lawyer, and it was amazing to find an expert who truly understood what I was up against. This blog is all about finding the right lawyer to help you through your legal battles so that you can avoid serving time for something you didn't do.
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Non-Disclosure And Non-Compete: 2 Agreements That May Protect Your Business' Interests
Henry Jennings
As a business owner who has fought tooth and nail to get your business running efficiently at the pace it is today, it can be devastating to find out that a current or previous employee has decided to sell your secret to success to your competitor across the street. You may think that every single one of your employees are 100 percent loyal to you. However, when offered with the right amount of money for the key to your success, they may decide to betray you. Therefore, you need to ensure that you and your business are fully protected. This can be done with one of two agreements: non-disclosure or non-compete contracts. Read on to learn more about each of these and how they may help.
Non-Disclosure Agreements
One type of contract that can be made between you and your employee is a non-disclosure agreement (NDA). These are designed to protect your business' confidential data and prohibit an individual from using or disclosing trade secrets without your permission. When developing such an agreement, it must be clearly defined what "confident data" is considered in your case.
As a general rule, these agreements will focus on secret formulas and other confidential keys to success. If that defined confidential information is later used to a person's benefit, you can hold them responsible for any damages that you incurred as a result of their recklessness and breach of contract.
Non-Compete Agreements
Another type of contract that can be used between an employee and a business is a non-compete agreement. These agreements will typically limit an employee's (or ex-employee's) ability to work in the exact same market and industry for a certain period of time after they leave your place of employment. However, for a contract to be enforced, it must be reasonable in time, geography and scope. It must also be written in order to protect business interest and not simply be done out of spite.
If you are the owner of a small, medium or even large business and are worried about your company's assets and secrets, you may want to consult with a business attorney skilled in commercial litigation. One of the aforementioned agreements may be a good way to protect your business, but only a lawyer can help you understand which one is best suited for your individual situation. He or she can also help draft the agreement so that it meets all jurisdiction requirements and is a legal, binding document once signed by you and a prospective employee.
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