Life After The FTC Ban: Alternatives To Non-Competes
The FTC's proposed ban on non-compete agreements is still making its way through the legal system, but businesses are already looking for alternatives to protect their interests. Keep in mind that it is not necessarily the employee you want to prevent from joining a competitor – although the loss of a good employee is always a hit – rather, it’s the trade secret you want to keep safe. Here are some alternatives to non-compete agreements that help you do just that: Stronger Trade Secret Protections There are state and federal laws in place to protect your trade secrets. In Texas, the Texas Uniform Trade Secrets Act, or TUTSA, protects “all forms and types of information, including business, scientific, technical, economic, or engineering information, and any formula, design, prototype, pattern, plan, compilation, program device, program, code, device, method, technique, process, procedure, financial data, or list of actual or potential customers or suppliers, whether tangible or int...