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Does your business need non-compete agreements?

As a Kentucky business owner, you know it is prudent to understand the various ways you can protect your legal and financial interests. One of the ways you can do this is by having employee contracts as well as non-compete agreements. Depending on the nature of your business, a non-compete agreement could be a beneficial way to ensure that your proprietary information stays where it belongs.

If you believe that your business could benefit from the protections provided by a non-compete agreement, you may find it useful to seek guidance in drafting these important contracts for your employees. With the well-being of your business on the line, there is nothing to lose by ensuring your property and important information remains safe.

Why consider a non-compete?

There are many reasons why you would consider adding non-compete provisions in your employee contracts or drafting separate agreements to address this issue. One of the most common reasons is to keep employees from taking your trade secrets and other important information with them if they choose you leave your company. This prevents the competition from accessing the information that gives you a competitive advantage.

In some situations, a non-compete agreement can come under scrutiny. An employee may challenge it after leaving your company, and poorly drafted agreements may not stand up in court. In order to ensure your agreement is valid, it must do the following:

  • Contain terms that are not overly broad or unfair to the employee
  • Contain reasonable terms and considerations
  • Provide protection for a legitimate business concern

Business owners find it beneficial to seek experienced guidance when drafting these important contracts. A carefully drafted contract is more likely to hold up to various challenges, and it can also provide valuable peace of mind knowing that your business interests are appropriately shielded.

The steps to protecting your business interests

Protecting your business is a complex process, but you do not have to walk through this process alone. With smart guidance, you can make sound decisions that are both beneficial and practical, and achieve solutions that secure your interests for years to come.

A non-compete agreement may be just one of the steps you can take to shield your business from unnecessary complications in the future. If you think this is an appropriate step for you, you may find it helpful start with a complete evaluation of your business' legal needs and objectives.

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Gatlin Voelker,PLLC

Gatlin Voelker, PLLC
2500 Chamber Center Dr. Ste. 203
Fort Mitchell, KY 41017

Phone: 859-781-9100
Fax: 888-456-9179
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Call : 859-781-9100