Non-compete agreements, according to Forbes, are agreements that protects information while a person works for a company and after the person leaves the company. In addition, a non-compete agreement can restrict a worker from working for a competitor in the same market.
A non-compete can severely restrict a person because he or she cannot enter the workforce with the competitor. For the non-compete to be an agreement that you can enforce, there must be consideration. Consideration may be money or something else of value. It is also important that the non-compete is reasonable. If your former employee or shareholder disagrees with a non-compete, what happens next?
When two shareholders have a dispute, particularly over non-compete agreements, it can end in a business divorce. These are extremely complex issues and often have a lot of emotions involves. After all, there is a lot that both parties risk through the dispute. You could go from having a disagreement with a shareholder to being in a courtroom, with the business splitting apart.
Business disputes do not always resolve easily. In fact, sometimes, the resolution will not occur until the parties involved go to court over the dispute. These disputes can become emotional and hostile. When you are dealing with a person’s business and with a person’s livelihood, it is no surprise that emotions may become heated. When it comes to non-compete agreements, it is possible that one party will try to invalidate the agreement.
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