Are Your Noncompete Agreements Dying of Old Age?
Periodic review and maintenance of noncompetition and other restrictive covenants agreements is crucial to ensure employers get the maximum available legal protection from theft of their customer base and business opportunity, employee talent and confidential information, advises Akin Gump Strauss Hauer & Feld in a website post.
The article summarizes some of the recent and noteworthy state statutes concerning such agreements.
The article adds: “Even in states where there has been no statutory activity, changes in an employee’s job or the underlying competitive landscape can affect the scope of enforceability of noncompete agreements. Post-employment restrictions on working for a competitor or soliciting former co-workers or customers are contracts that must satisfy the usual elements of an enforceable agreement, including a valid offer, acceptance of the offer and consideration to support the parties’ agreement.”
