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Unformatted text preview: e Elements
– Identify offeree
Signed and dated by offeree and offeror Written Contracts
Written Documented evidence ‘Meeting of the Minds’ Employment Contracts
Employment Unilateral Contract – Employee is not
bound. Cannot include that employee must work
for stated period of time.
for Confidentiality Agreements
Confidentiality Employee agrees not to divulge confidential
– Should describe nature of protected information
– List permissible uses of such information
– Identify remedies for non-compliance
– State term of agreement Trade Secret Agreements
Trade A trade secret reflects a wide array of
information that derives independent economic
value from not being widely disclosed or
readily Enforceable for indefinite period of time. Discovery Agreements
Discovery For employees hired to develop ideas and
innovations. Agreement transfers ownership of discovery to
employer. Prevents employees from claiming the discovery
as their own property.
as Non-Compete Agreements
Non-Compete Employee agrees to not work for competing
employer (including self) for
– Specified time (must be reasonable)
– Specified geography Prevents employee from working for other
companies in connection with the design or
sale of a competitive product.
sale Monetary remedy may be awarded to company
for Sample Non Compete Agreement
EMPLOYEE NON-COMPETE AGREEMENT
For good consideration and as an inducement for ___________
(Company) to employ ________Employee), the undersigned
Employee hereby agrees not to directly or indirectly compete with the
business of the Company and its successors and assigns during the
period of employment and for a period of ___ years following
termination of employment and notwithstanding the cause or reason
The term "not compete" as used herein shall mean that the
Employee shall not own, manage, operate, consult or to be employed
in a business substantially similar to, or competitive with, the present
business of the Company or such other business activity in which the
Company may substantially engage during the term of employment. The Emplo...
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This note was uploaded on 03/31/2014 for the course ACCOUNTING 1 taught by Professor Salendrez during the Spring '13 term at De La Salle University.
- Spring '13