In the aftermath of the worst recession in living memory (2007-2008), companies are continuing to fight to retain clients and grow their businesses. This means that they can be both gamekeeper and poacher, with well-drafted contracts of employment being essential to companies looking to protect their business.
This can be achieved by having well-drafted restrictive covenants, an express confidential information clause and intellectual property clause.
Restrictive covenants come in various forms. The most draconian being a non-compete on working for a competitor for a period of time after employment ends. The most common covenants being non-solicit and non-deal with clients of a former employer and also non-solicit of employees of a former employer for a period of time after employment ends.
A well-drafted confidential information clause protects trade secrets, confidential information and information which is part of the employee’s own general skill and knowledge.
A good intellectual property clause should protect your business’ patents, rights to inventions, copyright and related rights, trade marks, trade names and domain names, rights in get-up, rights in goodwill, unfair competition rights, rights in designs, rights in computer software, database rights, and topography rights. Usually a power of attorney is also given by the employee to allow the company to register various intellectual property rights.
With so much at stake in today’s competitive markets, the need to to properly protect your business through well-drafted clauses within your employees’ contracts of employment has never been greater.
For more information please contact Valerie Lambert on 01223 461155 or click here to email Valerie.
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