Our friends at Lexoo have put together a great piece on non-compete clauses and how best to deal with them. Read on below.
Imagine you’re about to finish some contract work for the best known brand in your industry. It was tough to come by so you were thrilled to get the job and with the boost it provided for your CV. Just days before the contract is up, a similarly well-known company in the same industry approaches you with an offer of employment. You’d be forgiven for thinking that everything was working out well, but unfortunately that’s not the case.
Remember that non-compete clause you signed as part of the contractor agreement? Well, it’s come back with a bite. You were so happy to get the contract that you didn’t even read it. The result? You can’t take the job you’ve been offered, or any like it for the next two years.
This scenario might sound farfetched, but it’s something that can and quite regularly does happen to those not diligently inspecting their contractor agreement. Most contractor agreements contain a ‘non-compete’ clause, which essentially sets out to what extent you are limited in working for other similar businesses in the immediate future.