Has an employer presented you with a non-compete agreement? If your employer has asked you to sign a non-compete, you should know what rights you are relinquishing.
What is a Non-Compete Agreement?
Non-competes are legal agreements entered into by employers and their employees, intended to prevent employees from starting a competing business or going to work for a competitor.
Non-compete agreements are commonplace in today’s workforce. Oftentimes, an employee is asked to sign a non-compete as standard procedure upon hire, or when they get promoted. Sometimes, an employee is even asked to sign a non-compete when getting laid off in exchange for a severance package.
What is the Purpose of a Non-Compete Agreement?
The purpose of a non-compete agreement is to protect the employer if the relationship with an employee comes to an end. A non-compete agreement often limits the options an employee may have when leaving the company. For example, it may disallow an employee of a company to work for a competitor for a certain amount of time after their employment ends.
Non-compete agreements are designed to help an employer edge out their competitors and retain top talent. By prohibiting employees from competing, employers may be able to gain an advantage and keep their business practices confidential.
When considering a career move or venturing out on your own to start a business, it is vital to understand the intricacies of your non-compete agreement to remain compliant.
Do I Need a Lawyer to Review my Non-Compete Agreement?
As non-compete agreements are used more and more frequently, it is incredibly important to have the agreement reviewed prior to signing. It is always recommended to have an attorney review any binding contractual agreement.
However, if you previously signed a non-compete, and are now looking to leave your employer for a competitor or begin your own business, an attorney can help defend your interests.
Don’t allow yourself to get stuck in a dead-end job, or delay potential career advancement because of a non-compete signed years prior.
An employment attorney can protect your interests against an employer seeking to enforce a non-compete, and can potentially limit the employer’s ability to exercise restraints on trade. In some cases, non-compete agreements can even be voided.
How to Hire an Attorney to Review a Non-Compete Agreement
As advantageous as non-competes can be for employers, they can really hold employees back and block potential career growth. If you’re starting a new job, changing jobs, getting laid off, or starting a new business, an attorney can help negotiate a non-compete agreement, or help take steps that will stop an employer from getting in the way of a new opportunity.
If you’re looking to consult with an attorney on your non-compete agreement, please contact us. At the Usman Law Firm, you will receive prompt and reliable counsel on your employment law questions.