|
|
Article: Covenant not to compete agreements: are they a necessary evil?(Controversies in Nephrology Nursing: Non-Compete Clauses: Are They an Appropriate Business Strategy?)
- Article from:
- Nephrology Nursing Journal
- Article date:
- September 1, 2005
- Author:
CopyrightCOPYRIGHT 2005 Jannetti Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
The loss of business, trade secrets, clients and personnel can be very cosily to an organization. To minimize their losses, many companies have used non-compete agreements as a tool to protect themselves. Typically, the use of such agreements is found in companies that could experience financial loss if employees became employed by competitors, taking with them client lists, trade secrets, and valuable knowledge.
The non-compete language usually specifies that an employee may not work in a particular business industry within a geographical location (i.e., 50-mile radius of the current employer's location) for a specified period of time (i.e., 1 year) after the ...