In a tight market, businesses want to protect their confidential information and trade secrets from walking out the door with a departing employee. It is essential to have a non-disclosure agreement in place to protect your business. Commonly referred to as NDAs, a strong agreement usually contains four restrictive covenants:
1. Protection and Non-Disclosure of Confidential Information.
2. Non-solicitation of customers.
3. Non-solicitation of employees.
4. Non-compete.
A one-size NDA does not fit all businesses. Rather, to be enforceable, an NDA must be specifically written and customized to protect YOUR business based on YOUR needs, where YOU operate, and who YOU employ. Here, in the DMV, non-competes can only be used in very specific situations.