Noncompete agreements are essential parts of the world of business law. Companies that use them are protecting themselves from potentially damaging situations in the future. A noncompete can be a standalone contract or it can be a clause in an employment contract. While each noncompete will be a little different, the general point of using one is this: the company doesn't want to risk exposing trade secrets or valuable information to someone who could then go off and work for a competitor or start his or her own business.
Imagine passing off such valuable information to an employee, only for the employee to quit and then, no more than a couple of months late,r your competitor is coming out with a product exactly like your best-seller. And then you discover that the employee went to work for your competitor.
Could it be coincidence? Possibly. But a noncompete agreement could prevent this from happening. Or, more accurately, if this did happen and you had a noncompete in place, you could leverage your legal position to hold the employee or company responsible for their actions.
At Rich Michaelson Magaliff Moser, we have extensive experience handling contract disputes and claims relating to noncompete contracts and clauses. We have helped businesses, small and large, all across the New York City area with their legal issues and we can help you address a particularly tough noncompete case, should you unfortunately have to deal with one.