Restrictive covenants in employment agreements can be very useful to companies on the leading edge of technology and business innovation. This document is a general checklist of factors employers should consider with respect to the use of such covenants.
New Mexico Employee Restrictive Covenants
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US-TC0916
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How to fill out Employee Restrictive Covenants?
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FAQ
Covenants not to compete are frequently enforced to prevent a former employee from soliciting his or her former customers to buy competing products or services from the new employer.
When businesses hire new employees in Santa Fe, New Mexico, they often draft employment contracts that include Non-Compete Clauses or non-compete agreements. Non-compete clauses are one type of ?restrictive covenant,? or clauses or agreements that are contained in business contracts.
When a party enters into a restrictive covenant, he/she agrees to refrain from doing something or from using a property in a certain way that is restricted by the contract. For example, when purchasing real estate, the buyer may agree to use the property for the designated purpose only and not for other purposes.
The most common types of post-employment restrictive covenants include non-competition clauses and restrictions prohibiting the solicitation of customers/ clients and employees, each of which are in effect both during the employment relationship and for defined period thereafter (e.g. six months).
These clauses allow employers to restrict an employee's ability to move onto working with a competitor immediately after leaving your business and taking valuable information from your company over to that new employer, such as client or customer lists, or certain trade secrets that your business relies upon to succeed ...
Restrictive covenants in the labor and employment context are agreements between an employer and employee that restrict the activities of an employee following a separation of employment.
California law bars covenants not to compete in nearly all circumstances. In Edwards v. Arthur Anderson, the California Supreme Court determined that the law should be read strictly, and not only void the ?unreasonable? noncompete clause, but all noncompete clauses other than those explicitly allowed in the code.
Yes, a non-compete is legally enforceable in New Mexico if the court deems them reasonable. The primary purpose of a non-compete cannot be to simply ?stifle competition.? An agreement must impose partial restraint of a specific trade no larger than reasonably required to protect the employer.
