Florida Non-Compete Agreements: What You Need to Know
Understanding Non-Compete Agreements
A non-compete agreement is a legal contract that restricts an individual from working in a similar business or profession for a specified period of time. These agreements are designed to protect a company's confidential information, trade secrets, and goodwill.
Enforceability of Non-Compete Agreements in Florida
In Florida, non-compete agreements are governed by statute FS 542.335. To be enforceable, a non-compete agreement must be:
- In writing
- Supported by adequate consideration
- Reasonable in terms of duration, geographic scope, and scope of activities restricted
Verbal agreements that place a non-competition obligation on a party are not enforceable in Florida.
Exceptions to Non-Compete Agreements
There are a few exceptions to the enforceability of non-compete agreements in Florida. These exceptions include:
- The agreement is overly broad or unreasonable
- The employee was forced to sign the agreement without understanding its terms
- The employee is not provided with adequate compensation for the restriction
If you are considering signing a non-compete agreement, it is important to speak with an attorney to ensure that you understand your rights and obligations.
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