Courts disfavor noncompete agreements. Smart companies recognize this. Entrepreneurs and business owners hoping to reduce the threat of key employee defections and client poaching would be well-served to read this thoughtful article by Huffington Post contributor Nina B. Ries.
Among attorney Ries' suggestions for protecting your business assets without a noncompete agreement:
- restrict moonlighting by current employees;
- limit access to confidential information; and
- conduct exit interviews involving the accounting for, and return of, company property.
Ries also suggests having employees sign less restrictive non-solicitation and nondisclosure agreements.
The best way to protect your information is to understand the law concerning intellectual property and trade secrets in your area. Contact legal counsel with employee mobility experience to ensure that your policies are up to date and are enforceable in your state.