Full question:
I have an idea for a 'green' product that I would like to market. I will obviously need help with financing and engineering. Is there a form that I can have people sign that says they won't steal my idea or manufacture anything like it for 10 years? If so, how much would something like that cost?
- Category: Employment
- Subcategory: NonCompete Agreement
- Date:
- State: Florida
Answer:
The agreement may contain terms that prohibit the disclosure of confidential information and competition with your business. The employment of the individual is typically considered adequate consideration to make the contract enforceable. If another employer is aware of the agreement and intentionally seeks to interfere with its terms, it may be possible that that employer is liable for damages for intentional interference with a contract.
Courts will enforce non-competition agreements if:
-the employer proves that it has a legitimate business interest to protect by restricting its employees' right to compete against it;
-the restriction on the employee's right to compete is no greater than that necessary to protect the employer's business interest; and
-the covenant not to compete is supported by consideration, meaning that the employee received something in exchange for it.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
