Protecting Your Business:

Non-Compete & Non-Disclosure Clauses

If you’re a small startup business or a larger, well-established company, you have to protect your business from competition and from employees and others who have knowledge of your company, your clients, the vendors you use and other confidential or proprietary information.

 

Businesses all have unique assets that must be protected such as specialized customer or client lists, particular vendors that are used, how the day-to-day operations run and what equipment and materials are used. Basically, you don’t want a valuable business asset shared with, or stolen by another party.  

 

There are many other circumstances you should protect your business from, such as: receiving services from another company (or person) who have access to your sensitive business information and employees who may have access to proprietary information during the course of their job.   One common concern to most businesses is an employee leaving your company taking client lists and ideas to start their own competitive company.

 

If your business has employees who create or invent ideas or tangible items while under your employment, who will own the rights? Let’s say one of your employees creates a new software program while working for you - do you own that software program or does the employee own it? Should you have had a Proprietary Invention Assignment contract in place?  

 

You should also be protected if you decide to sell your business. Prospective buyers will want to see your profit and loss statements, marketing and other confidential information. What if that prospective buyer has to share your confidential information with other investors, agents or partners?

 

Our business attorneys, located in Denver, Colorado, can help protect your business with non-disclosure and non-compete agreements. These agreements are also known as confidentiality agreements, proprietary information agreements and secrecy agreements. The agreements are legally binding contracts between at least two parties that will outline the knowledge, information and material that cannot be shared with another party.

 

Each business is unique and unfortunately a ‘one-size fits all’ agreement often omits information that should have been included for the company’s protection. Gantenbein Law Firm’s experienced business law attorneys bring the expertise needed to protect your assets, offer solutions and services that challenges all businesses.