Massachusetts Employment Non-competition Package
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How to fill out Employment Non-competition Package?
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FAQ
Employee agrees that for _____ [months/years] after Employee is no longer employed by the Company, Employee will not directly or indirectly solicit, agree to perform or perform services of any type that the Company can render ("Services") for any person or entity who paid or engaged the Company for Services, or who ...
This agreement prohibits the employee from entering markets or starting businesses that might cause the employee to gain a competitive advantage against their former employer. For instance, the employee might gain an advantage by exploiting trade secrets or other confidential information.
There are now five states that outright ban virtually all non-competes, i.e., California, Colorado, Minnesota, North Dakota and Oklahoma. These laws have just very narrow exceptions, such as for certain sales of businesses.
Unlike the FTC rule, the Massachusetts law did not apply retroactively. The Massachusetts law states that non-compete agreements signed after the effective date of the legislation must have a "garden leave" provision or other mutually-agreed consideration for the non-compete.
How to Deal with a Non-Compete Agreement Talk to a Lawyer. ... Consider the Scope of the Agreement. ... Limit the Scope of the Agreement. ... Exclude Certain Activities from the Agreement. ... Negotiate a ?Severance Package? in Exchange for Signing the Agreement. ... Don't Sign the Agreement If You Disagree or Don't Understand It.
Massachusetts law requires that non?compete agreements be limited in time, scope, geography, and supported by consideration. A non-compete must not be broader than necessary to protect one or more of the following legitimate business interests of the employer: The employer's trade secrets.
This is called "garden leave" in the statute. That means if you were earning $100,000 per year and you have a 12 month non compete, your employer must pay you $50,000 over that period.
In January 2023, the FTC undertook the directive from the executive order by announcing a Notice of Proposed Rulemaking that would ban all non-compete clauses in employer-employee contracts, subject to limited exceptions, including for non-competes entered as part of the sale of a business for a person holding 25% or ...