Research indicates that almost 30 million employees are required to adhere to their employers’ noncompete contracts, also known as noncompetition agreements or noncompetes. About 38% of American workers will have noncompetes during their careers. Here is a look at what noncompete agreements are and how they may help a business owner in Florida.
Benefits of noncompete agreements for businesses
Noncompete contracts are agreements where employees agree to avoid competing with their employers whether they start a competing business or work for existing competitors. These contracts generally have geographical and time-limit limitations as required by state law. For example, a contract may state that an employee cannot launch a competing company within 25 miles of their employer’s location or in less than two years after leaving the employer.
These agreements can help a business by protecting its proprietary knowledge and trade secrets. Businesses often discover that their employees have violated their noncompetes when they check their emails after they have left their companies. A business might notice that an employee emailed himself or herself information like a business cheat sheet, contact list or chart before leaving his or her job.
How an attorney can help create a noncompete contract
Understanding how to create a detailed, comprehensive noncompete agreement can be overwhelming for any business owner. Fortunately, an attorney in Florida can help business owners through this process. The attorney will strive to ensure that his or her clients’ noncompete agreements are enforceable in court and hold workers accountable for violating the agreements.