Massachusetts Clauses Relating to Venture Opportunities, competition
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FAQ
The Massachusetts Non Compete Act states that an employer must pay at least half of your average base salary for the duration of the restricted period unless the employer chooses to waive the non compete restrictions. This is called "garden leave" in the statute.
In August 2018, Massachusetts governor Charlie Baker signed into law the Massachusetts Noncompetition Agreement Act, which regulates non-compete clauses by limiting their enforceability and codifying express requirements they must meet (New Massachusetts Law Limits Non-Competes). The law went into effect October 1.
Colorado, Illinois, Maine, Maryland, New Hampshire, Oregon, Rhode Island, Virginia, and Washington prohibit non-compete agreements unless the employee earns above a certain salary threshold. Other states, like Iowa and Kentucky, limit the use of non-competes for certain professions such as healthcare workers.
''Forfeiture for competition agreement'', an agreement that by its terms or through the manner in which it is enforced imposes adverse financial consequences on a former employee as a result of the termination of an employment relationship if the employee engages in competitive activities.
In the US, garden leave is a contractual arrangement between the employer and employee that kicks in when an employee leaves the company. The terms and conditions are set out in the employment contract between the employer and the employee.
A Massachusetts Standard Clause limiting an employee's solicitation of employees and customers during the term of the employee's employment and for a specified period of time after the employment relationship ends.
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.
Garden Leave Clause Forbid the employer from discontinuing these payments until the restricted period is over, unless the worker breaches a fiduciary duty to the employer or the non-compete agreement, itself.