Jeremy Goldstein a New York Based Lawyer Speaks on why it is Necessary for Employers to have Non-Competent Agreement

Jeremy Goldstein is a highly successful US-based attorney and employment law, expert. Goldstein is the founder of Jeremy L. Goldstein Associates, a New York-based law firm that specializes in matters corporate governance, executive compensation as well as mergers and acquisition. Goldstein holds a JD degree in law and has been in the industry for more than a decade. Besides running a successful law firm, Goldstein is a philanthropist and serves as a board member of the Fountain House Foundation, a mental health charitable organization.

Jeremy Goldstein on a day to day basis deals with many conflicts of interests’ issues relating to Non-Competent Agreements. Non- competent agreements serve to protect employers’ rights in certain situations. According to Goldstein, based on experience, it is quite essential for employers always to have a Non-Competent Agreement as it serves to protect their business from unfair competition from former employees. Former employees who may have inside knowledge of all your business operations, process, or strategies may decide to establish a similar business or share the knowledge with your business competitor.

Non- compete agreements are usually written by legal practitioners who have specialized in employment law and are presented to employees during the hiring process. However, in other situations, the agreements may be drafted for current employees. Before seeking the services of an employment lawyer, Goldstein advises employers first to take a moment and evaluate the need for the agreements in their businesses. Many employers, according to Goldstein, are lately beginning to draft the agreements. The reason for this latest trend in the industry, according to Goldstein, is that most employers want to limit competition from their former employees. Former employees previously had access to crucial information, unique formulas, strategies as well as clientele that they could use to their advantage. As a result, the unfair competition may lead to massive financial loss and ultimately, closure of their businesses.

Jeremy Goldstein says non-competent agreements are quite sensitive and must be drafted in such a way that it will be difficult for anyone to challenge it in court. According to Goldstein, the agreement must not be too restrictive as many courts will not enforce agreements that are so restrictive and appears to coerce employees or tie them to working with the company. The agreement should be drafted by a professional and should seek to protect a company from any business harm. The agreement must be reasonable for both parties say, Goldstein. Some of the things to put into consideration aside from the limitations and restrictions of an agreement are the length of time when the agreement will be enforceable as well as the geographical locality the agreement will cover as these are things that courts of law mostly review. An agreement that surpasses ten years and covers a vast geographical region is likely not going to be enforceable. Only agreements that focus on legitimate concerns and have reasonable restrictions can be enforced says, Goldstein.

 

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