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Non-compete Agreements
Although most lawyers provide lists of the top ten things to know about non-compete agreements, our list goes to eleven. By way of background, today's competitive marketplace is like none other in history. No matter what your industry, key corporate assets and technologies ' including trade secrets, confidential information, and customer goodwill ' are more portable, and therefore at greater risk of loss, than ever before. Exacerbating this circumstance, barriers to entry for new competition are lower than ever and employees are more mobile than ever. With these issues in mind, in-house counsel must understand how to protect the company's intellectual capital and relationships.
Although non-compete agreements are only one tool, they are also the most effective. Simply having a non-compete agreement is not, however, enough. Whether enforcing or defending against such agreements, in-house counsel must understand the fundamentals. The eleven that follow are the most critical.
1. Read the Agreement
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