Ouch! Bit by the Entrepreneurial Bug
Imagine... you have worked at a company for a period of time, crushing life, but wonder if there could be more out there for you. What if you worked for yourself? Those things that irritate you in production, maybe you could do them a better way? Well, you got bit! .... by the entrepreneurial bug.
Whether you leave a company on your own terms or part ways for other reasons, you must be aware of whether you are still under an employment agreement that includes non-compete and non-solicit provisions when evaluating your career plans. Next steps can be costly and crippling if not the right moves. Based on the language, there may be a workaround that allows you to move forward, but you may have to bide your time until the clock runs out on your agreement, whether one year, two years, or different. These are important details to know before you're living on a prayer and spending money.
Terms that may craft your immediate future can involve a geographical area, specification on the type of work you can perform, your audience, marketing methods, and more. If you and your buddy from work want to join as partners in a new venture, know not only IF you can proceed but WHEN and HOW.
Non-compete and non-solicit agreements are NOT one-size-fits-all and vary by company and sometimes by position within the company.
Want to understand what you already signed?
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