Do I Need to Employ Non-Disclosure and/or Non-Compete Agreements?

If your business has valuable or unique, proprietary information that you want to keep secret, it may be a good practice to have your employees sign a nondisclosure agreement.  An NDA is a contract in which the individual promises to protect the confidentiality of the information learned and/or disclosed during his or her employment.  If you have concerns that current employees might leave your company to work for a competitor, and this might cause you competitive harm, you may want to have new employees sign a non-compete clause.  A non-compete agreement is a legal contract that prohibits employees from revealing valuable information to competitors or other outsiders for a defined period after ending employment with the company.  A non-compete clause can also prohibit a former employee from going to work for a company deemed to be a competitor.