Even if a company is able to demonstrate that the non-competition agreement is authorized by law, the company must nevertheless demonstrate that the restrictions imposed by the agreement are appropriate. Among other things, in order to determine whether the restrictions are appropriate, the Tribunal will consider that non-competition prohibitions are commonplace in many current employment contracts. Even if your employer has signed such an agreement, not all non-competition prohibitions can be upheld in court. If a non-competition agreement is too harsh and unfair to the worker, for example. B setting an unrealistic deadline before the worker can work for another employer in this area, it can be cancelled. There are also concerns when you are fired and you have to look for another job. A non-compete agreement may prevent you from securing a new position in this case, which affects your ability to maintain a standard of living. Colorado does not have a timetable that is considered appropriate. The Colorado courts have obtained up to five years. However, five years will be far too long for many agreements. On the other hand, an agreement of more than five years could be reasonable in certain circumstances. A non-competition agreement formally prevents an employee, contractor or company from performing certain competitive activities. For example, the seller of a business may be prevented from competing with the buyer for a certain period of time.
Or an employee with an intimate knowledge of the company, such as a manager. B may be prevented from passing this knowledge on to competitors. If you are a future employee, chances are good that you have unique and valuable skills that your future employer appreciates. Depending on your value, you may be able to avoid any non-competition clause. Or if it`s not possible, you could… As an employee who already has a job, you do not have to sign a non-compete clause. In this situation, if your employer wants you to sign a non-compete, you should ask for something in return: a lump sum cash payment, a salary increase, stock options, more vacations, whatever. But if your current employer wants you to sign one, press the Pause button first. So, prefer a calculated valuation if the reward you receive is worth the extra risk you take. This category of enforceable competitive conditions in Colorado is necessary for a competitive market. Why would someone invent a new technique or business strategy if they couldn`t protect these trade secrets? A small contractor risks its competitive advantage every time they hire a new employee or creditor to perform repairs or audits. Fortunately, in Colorado, non-competitions are allowed for trade secret cases.
Trade secrets may include: design, procedures, procedures, formula, improvement, confidential business or financial information, list of names, addresses or telephone numbers, or any other information relating to a secret and rewarding business or profession. Baird Quinn regularly represents businesses and employees on non-competitors, non-invitation agreements and trade secrets. Our commercial lawyers have extensive experience advising on the enforcement of competition and non-appeal agreements, developing such provisions, and prosecuting and defending trade secrets and competition protection litigation. We understand that clients need immediate access to competent and aggressive lawyers to protect their interests in the event of commercial litigation.