Protecting Your Most Valuable Business Assets
The economic reality of today's business world is that employees are less loyal and more inclined to change jobs than they were in previous generations. This trend will not only continue, it is likely to increase.
In addition, technology continues to evolve and improve. It is infinitely easier today to obtain and remove confidential information than ever before. Let's face it, the days where an employee had to sneak into work at night and stand by a copy machine to misappropriate information are over. Today, one can download vast amounts of information in minutes, walking away with the information on a device no larger than a pen. The combination of higher employee mobility and the ease of transferring information has heightened businesses' sensitivity and efforts to protect some of their most valuable business assets, namely, their trade secret information and their customer base.
Restrictive covenants are one of the most effective tools to prevent and mitigate the damages incurred when a key employee departs and attempts to take either competitively sensitive business information or customers with him or her to a competing company. The prevalence of restrictive covenant agreements and the litigation of "non-compete" cases is increasing, as is the willingness of companies to spend the time and resources to properly protect their valuable business assets and enforce these types of agreements.
In addition, technology continues to evolve and improve. It is infinitely easier today to obtain and remove confidential information than ever before. Let's face it, the days where an employee had to sneak into work at night and stand by a copy machine to misappropriate information are over. Today, one can download vast amounts of information in minutes, walking away with the information on a device no larger than a pen. The combination of higher employee mobility and the ease of transferring information has heightened businesses' sensitivity and efforts to protect some of their most valuable business assets, namely, their trade secret information and their customer base.
Restrictive covenants are one of the most effective tools to prevent and mitigate the damages incurred when a key employee departs and attempts to take either competitively sensitive business information or customers with him or her to a competing company. The prevalence of restrictive covenant agreements and the litigation of "non-compete" cases is increasing, as is the willingness of companies to spend the time and resources to properly protect their valuable business assets and enforce these types of agreements.
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