The Pipeline construction company, Coastal Field Services recently obtained a favorable defense ruling for a charge leveled against them by a former employee. The company had allegedly offered the employee a 2% ownership stake in exchange for staying with the company. The employee claimed that the company never provided the ownership stake and subsequently terminated them two months later.
Whether due to a broken contract, disagreement among shareholders or more, the prospect of your business facing a dispute can be nerve-wracking. Preparing for a dispute may risk taking time, resources and energy from the everyday matters of your business.
Non-compete agreements have an important place in business. They protect valid business interests.