To divorce your business partner is a difficult process, and one that is often not anticipated or planned for. It can be complex when children are involved but your company can make things get down right dirty.
Legal experts Laura Conway and Blair Adams explain why restrictive covenants can help a business protect its assets after a member of staff leaves.
Departing employees are often well-placed to make use of confidential information. That’s where restrictive covenants come in.
A shake of a hand may seem enough if you are going into business with a family member, friend or former work colleague and even staff you take on, but don’t leave anything to chance when it comes to protecting the business, warns Marc Jones, partner and employment law specialist at Turbervilles Solicitors.
Ignoring restrictive covenants can be one of the most expensive mistakes a small business can make. Failing to pay proper attention to a restrictive covenant in a new employee’s previous contract could mean the employer is taken to court.