A company’s confidential information, brand identity and relationships are the intangible assets setting one business apart from another. Whether big or small, it is critical every company protect their valuable confidential information. One of the best ways to safeguard businesses assets is maintaining well-crafted non-complete agreements. These are written documents signed by every level of staff, vendor, contractor, or consultant as a condition of employment or execution of contract.
A non-complete agreement ensures employees, vendors and others cannot join a competitor or start their own business using the knowledge gained working with your company. The agreement defines protected intangible assets as trade secrets, confidential information, potential or existing relationships, trademarks or names associated with geographic locations and trade areas.
The State of Florida has a complex statue governing the enforceability of non-compete agreements. Language in the written non-compete agreement should follow Florida statues for validity, defining the lines of competing businesses, a specified timeline post-employment and a specified geographic location. If the language is overly broad these agreements may be disputed.
To preserve your business investment, have a legal professional draft or review non-compete agreements to ensure they are meeting the criteria of the Florida statute and are enforceable.
At Bitman O’Brien & Morat, we can help any business prepare or litigate non-compete agreements. Bitman O”Brien & Morat has expertise in employment, contracts/corporation, personal bankruptcy, partnership disputes and small business issues.