We are migrating this blog to Facebook and our website.
Please visit www.facebook.com/senneysays and "Like" our page.
~Or~
Send your email address to: jsenney@pselaw.com to receive the latest blog by email.
~Or~
Send your email address to: jsenney@pselaw.com to receive the latest blog by email.
Sometimes you get what you pay for. And sometimes you don’t. In an effort to save a few dollars, some business owners prepare legal documents themselves, or buy one-size-fits-all documents off the internet, or get a friend of a friend to do the work for cheap. The results often are not what the business owner expected.
I encountered a recent situation where a business owner wanted to prevent a former employee from competing. At the time of hire, the business owner required each employee to sign a non-compete agreement. So far so good. The problem was that the language used to describe the non-compete restricted area was not properly worded. The business owner intended to restrict the employees from competing within a 5 mile radius of the existing business location. Unfortunately, the language in the non-compete agreement which defined the restricted area was based on a 5 mile circumference rather than a 5 mile radius. This improper wording had a dramatic effect. The restricted area is approximately 78.5 square miles if the restricted area is based on a radius of 5 miles from the existing location. But the restricted area is less than 2 square miles if the restricted area is based on a 5 mile circumference around the existing location. This is a huge difference. This drafting fiasco could have been avoided.
Please call or email me or Matt Stokely if you would like us to review or help you draft a non-competition or non-solicitation agreement at 937-223-1130 or Jsenney@pselaw.com.
AND ONE MORE THING. The IRS has issued a press release (IR 2013-49) reminding tax-exempt organizations to file their Form 990 annual return by May 15, 2013 or risk having their tax-exempt status revoked. Contact Jeff Senney at 937-223-1130 or Jsenney@pselaw.com if you would like a copy of IR 2013-49 or have any questions about establishing a tax-exempt organization or filing the annual return.
No comments:
Post a Comment