Some scenarios keep business principals in New York and elsewhere awake at night. We note one of them on our website at the established Manhattan commercial law firm of Rich Michaelson Magaliff. We cite concerns linked with "having a departing employee become a competitive threat and use knowledge of the business's trade secrets against it."
It certainly makes sense from an employer’s perspective. Business owners and managers in New York and elsewhere generally spend a lot of time and money to adequately train new workers. Unquestionably, that is an investment worth protecting, especially against raiding attempts from rivals seeking to score top-tier talent on the cheap.
New York businesses of all sizes and types live in a reality marked by both opportunity and challenge.
Company principals in New York and nationally obviously put a premium on the high-value work that key employees do for their enterprises. In tandem, they sometimes have legitimate concerns when such workers terminate their employment and take their talents to competitors, working in the same or a similar field.
Although it is difficult to pinpoint when a proposed business merger prompts legitimate anti-competitive concerns, some government officials are noting that a prospective AT&T/Time Warner linkage is unquestionably sounding monopolistic alarm bells.
Seasoned business principals in New York companies and across the country know that paying careful attention to noncompete agreements inked with key employees can be vitally important down the road.
Diverse businesses in New York and all across the country are daily focused upon tax-related matters that affect their enterprises.
Although proven and long-tenured business and commercial law attorneys can certainly argue a number of ways against the point - as asserted in an online overview - that shareholder and partnership agreements are "the corporate equivalent of a prenuptial agreement," they might still confirm the base legitimacy of such an analogy.
It is more than advisable for an employer to consider what might happen in the future regarding select employees who leave their positions to take up employment with a business competitor or go directly into business for themselves.
Here's a business-related scenario that unquestionably keeps a legion of company principals across myriad industries in New York and elsewhere awake at night.