Non-Compete and Non-Solicit Provisions
Executives, partners, and professionals are often required to sign restrictive covenant agreements, which can include non-compete and non-solicit clauses in employment agreements, equity agreements, and in stock and option grants. These are legally binding documents that can have a significant impact on an employee’s working relationship with an employer, and affect their ability to work within their field following termination of employment. Philadelphia employment lawyers of Sidney L. Gold & Associates strongly advises their clients to delay signing these agreements until they are reviewed by counsel.
In some cases, these non-compete and non-solicit provisions are presented to employees before and even during active employment. In some states, restrictive covenants are enforceable without a written document citing common law, such as duty of loyalty and fiduciary duties. It is imperative for anyone entering into a restrictive convenient agreement with non-compete and non-solicit provisions to consult with counsel before signing. Doing so can prevent problems such as being unable to work within their field upon departure from the company, or being restricted from starting a new business or hiring former associates.