Many businesses depend on proprietary information, trade secrets or other closely held information in order to differentiate their product or services from the competition. When employees with access to this information leave the company, it comes with the risk that your trade secrets will end up in the wrong hands. For this reason, many Florida companies rely on the protection of a non-compete agreement.
Who needs a West Palm Beach Non-Compete Agreement?
Not every company or business needs this type of protection. Your business may benefit if the continued success of your business depends on any of the following:
- Food or drink recipes
- Secret formulas
- Specialized manufacturing processes
- Computer algorithms
- Client lists
- Trade secrets
A non-compete agreement can help you keep your intellectual property safe and secure, even after a former employee leaves for other opportunities. These agreements generally prevent employees from sharing certain information or working for a competitor for a certain amount of time.
Elements of an Enforceable Agreement
Simply requiring an employee to sign an agreement is not a guarantee that it will stand up in court. This is why we always recommend hiring competent West Palm Beach Business Lawyers, like Law Office of Ryan S. Shipp, PLLC to assist. In order for your contract to withstand scrutiny and be enforceable, it must be fair, reasonable and drafted correctly. A strong non-compete contract must include the following factors:
- Proof that valid business interests are at stake
- Clearly defined geographical limitations and time period for employment restrictions
- Must be reasonable and not place unfair burdens on employees
- Cannot prevent an employee from bringing basic skills to another employer
- Signature of the employee
- Must not infringe upon the right of a former employee to earn a living
Non-compete enforceability and confidentiality agreements pertain to a complicated and nuanced area of law. If you believe your Florida business would benefit from implementing certain legal protections, it is important to work with skilled West Palm Beach Business Lawyers with experience in these matters.
Ensuring the continued success of your business
It can be particularly difficult to keep proprietary information secure, and it is important to take quick action to protect the long-term interests of your business. By making the effort today to ensure your information is secure, you may be able to avoid a host of legal complications in the future. A West Palm Beach Non-Compete Agreement is a tool you can use to protect your competitive advantage and private information, thereby safeguarding your continued success.
Call your West Palm Beach Business Lawyers at Law Office of Ryan S. Shipp, PLLC today @ 561.699.0399 to see how we can help. We are located in Lantana, Florida. We serve West Palm Beach and the entire State of Florida.