What is a non-compete agreement?
Generally by signing a covenant not to compete, an employee agrees that if she leaves the employer, she will not go to work for the employer’s competitors. Sometimes the employee will receive compensation for signing the non-compete agreement. Covenants not to compete are also known as “non-compete clauses” in contracts.
A business typically uses non-compete clauses in the following situations: highly confidential materials; customer information/lists; trade secrets; or other intellectual property rights.
Do you need an attorney to help review a non-compete agreement?
Before signing anything that may restrict your future employment, it’s a good idea to have an attorney review the contract. Further, an attorney can also help draft a covenant not to compete, or negotiate the terms of such a covenant.