Noncompete Agreements in the Context of a Business Sale
1 hour 30 minutes
Gain and understanding of noncompete agreements and negotiations of these agreements.
Noncompete agreements are powerful tools to protect a business’ trade secrets, confidential information, clients, and goodwill by preventing a departing employee to secret away critical business information and client relationships to a competitor. When enforceable, noncompete agreements prohibit former employees from working for any competitor or forming their own competitive business.
Under normal business conditions, drafting enforceable noncompete agreements requires thoughtful, advanced planning. In addition to providing a general overview of the best practices for drafting and enforcing noncompete agreements, with or without litigation, this material will address the special complications that arise during corporate restructuring. The covered topics will include how to preserve pre-existing noncompete agreements, introduce noncompete agreements into an existing workforce, and negotiate and draft noncompete agreements with prior owners. While geared towards the special problems businesses must navigate in the context of a business sale, this material will also provide all individuals with a sophisticated understanding of how to better protect their assets.
• You will be able to identify all of the common pitfalls in drafting and administering noncompete agreements across states.
• You will be able to evaluate whether you should preserve a previous owner’s noncompete agreements.
• You will be able to avoid common issues with assigning noncompete agreements.
• You will be able to identify and select appropriate enforcement strategies.