Trade secrets are one of a company’s biggest assets. While trademark law and intellectual property law protect signature products and services, some companies do not take the necessary care in addressing non-disclosure agreements that protect trade secrets. The confidential information employees are often involved in include marketing plans, business plans, financial information, customer databases and other sensitive information. Generally speaking, trade secrets are defined as information that is not generally known and the owner takes great pains to keep that information private.
Breweries are like many other businesses. They hire employees; they give key workers access to important recipes (a trade secret); they potentially expect them to avoid competing after leaving the company. Thus, it is expected that owners would cry foul if an employee violates these stipulations.
Ideally, agreements are entered into with both sides benefitting from the outcome. But agreements do not always go as planned, so there can be unexpected delays, financial disputes and other issues that prevent the contract from being honored. A failure to fulfill the promise of the contract is referred to as a breach of contract.
It is not uncommon for parties to a business contract to have a disagreement. The parties to the contract may seek a form of dispute resolution to resolve their conflict.
Business entities entering into an agreement may include clauses for dispute resolution. While this may seem aggressive or cynical, these commonly used clauses can provide a helpful map to resolving a dispute between the two sides during the time of the contract. As an insightful article at Mediate.com pointed out, basic language not tailored to fit the needs of the arrangement will often do nothing to help resolve the matter, but dispute resolution (DR) clauses that address the needs of the contract can be extremely helpful.
Real estate is full of thorny issues that can raise disagreements. Even when a solid contract is in place, parties can still face contentious disputes. Contract disputes are not something that any party involved in a real estate transaction wants. Nonetheless, they can arise at any stage in the transaction.
Non-compete agreements can be crucial documents for business owners. These agreements can help mitigate the risk of a former employee accepting a job from a competitor or starting their own business that directly competes with yours. But as useful as non-compete agreements can be for employers, they can be legally tricky to enforce.
You have put immeasurable time and effort into procuring the right customers and employees for your business. You recruited the top talent in your field because you knew that your company would be only as strong as its employees. Then, you painstakingly built a roster of reliable, loyal clients who have made your business what it is today. So, when one of your employees leaves your company and takes one of your clients with them, you are understandably upset.
As a business owner, you have no doubt entered into several contracts with your partners, clients, contractors and other parties. Usually, these contracts ensure that everything runs smoothly for everyone involved. Sometimes, though, this doesn’t work out. Perhaps one of the signatories violates the terms of the contract by failing to hold up its end of the bargain. In this case, you have a breach of contract.
Contract disputes are a messy part of owning a business that you may believe are inevitable. All too often, an employee or partner takes issue with some part of a contract, no matter how minute, resulting in costly litigation for your company.