Denver Non-Compete Agreements Attorney
Protecting Businesses from Unfair Competition
Non-compete agreements are an essential means of business protection. When you turn to Denver Business Lawyers, we can help you understand how you can restrict individuals from engaging in certain competitive activities that could be damaging to your company.
Call (303) 500-1484 now to learn more about non-compete agreements in Denver.
Are Non-Compete Agreements Enforceable in Colorado?
Generally, non-compete agreements are void and not enforceable in Colorado unless they fall under one of three exception categories. Only then will the courts consider the agreement “reasonable” and enforceable.
The possible exceptions include:
- Trade secrets
- Sale of a business
- Management or management personnel
In Colorado, non-compete agreements are allowed when they protect against the distribution of certain information that an employer wishes to keep secret. This private information is referred to as a trade secret. However, only certain types of information qualify as trade secrets. An experienced business lawyer can help you determine if your information meets the criteria of being a trade secret.
Sale of a Business
A non-compete agreement can also be used to protect the purchaser of a business and its assets. Every sales agreement should include specific parameters that the seller agrees not to violate regarding competing with the new owner of the business. Without this type of non-compete agreement in place, a seller could use his intimate knowledge of the business to undermine the buyer’s success.
Management or Management Personnel
Persons within a business who have access to the company’s highly confidential information can also be held in check by a non-compete agreement. In this case, an employer enters into an agreement with the employee that he or she will not work with a competitor in the future. This prevents specific information from being leaked to the competition, which could otherwise give the competitor an unfair advantage.
We Can Help You Create a Reasonable Non-Compete Agreement
If you would like to enforce a non-compete agreement in Denver, its restrictions and duration must be considered to be “reasonable” by the courts. The legal team at Denver Business Lawyers can help you draft an acceptable agreement so that you can get the protection you require.