New York Business Agreements | Franchise Law Blog

Confidentiality and Noncompete Agreements

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There are many ways you can protect your business. While most small businesses don’t need a policy to protect confidential information and trade secrets, others can benefit from creating confidentiality and non-compete agreements. Confidentiality policies prevent current and former employers from sharing certain information. Non-compete agreements keep employees from working with a business competitor for a certain length of time.

You’ve spent a lot of effort developing your customer lists, your operating procedures, and your technology, and you want to protect it. A confidentiality agreement will keep people with access to your information from sharing it with your competitors. Here are a few things that you can protect with a confidentiality agreement:

• Inventions
• Discoveries
• Data
• Trade secrets
• Formulas
• Methods of conducting business
• Manufacturers you use
• Processes
• Compositions
• Machines

You can even protect information about your customers. Depending on your type of business, you could have sensitive information about your clients that needs to stay private. If this is true for your business, you should have a confidentiality policy in place.

If you believe that you have information worth protecting, there are steps you can take. While developing your confidentiality agreement, explain to your employees the need to protect information. Define the type of information that you are trying to protect. Educate your employers how to avoid revealing private information. Explain what penalties will result from violating the company policy.

Then, it would be in your best interest to have them sign a non-compete agreement. Make sure all future employees sign the agreement when they’re hired. When writing a confidentiality agreement and non-compete policy, make sure you have an experienced New York City business lawyer by your side who can help you create a policy that protects the best interests of your company.

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Date: 10/19/2015 | Category: Confidentiality

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