One specific way that corporate attorneys can help your business is by protecting your business interests and profits through the use of legal agreements. Keep in mind is that these kinds of agreements are designed to protect both parties. Some types of agreements specifically focus on protecting your business from unfair competition or from trade secrets being shared with competitors.
Two of those types of agreements include non-compete & non-solicitation agreements (NCNS) and non-disclosure agreements (NDA). A non-disclosure agreement (NDA) specifically prohibits an employee or business partner from not disclosing, or sharing, certain information with anyone outside the company. This agreement is often used when employees are working with information or secrets that could potentially damage the business if it were to be shared. A non-compete and non-solicitation agreement (NCNS) protects a business’s trade secrets and proprietary information by preventing employees and contractors from competing with the business once their employment with the business in question has ended or from soliciting clients or employees from leaving your business.
NDAs and NCNSs are drafted by corporate attorneys, who can balance the needs of the businesses who have them drafted with the rights of the employees involved. The purpose of these documents is to make clear all of the terms for all parties involved, eliminating misunderstandings and, ideally, eventual non-compete litigation. These documents can also form the basis of such litigation, if necessary, in the future.