Cooperman quoted in Baltimore Business Journal on non-competes
Harriet E. Cooperman, co-chair of the firm’s Labor, Employment and Employee Benefits Practice Group, was quoted in the “Focus on Law” section of the Baltimore Business Journal discussing companies' increasing use of non-compete contracts to protect proprietary information, client lists and their value to potential buyers in the current economy. As a result, lawyers have seen a spike in this kind of work over the past year, but they also note that many companies aren’t doing enough on the front end to protect their assets.
Any business with confidential or proprietary information an employee could walk out the door with needs non-compete contracts, Harriet said. She went on to say that the key to a good non-complete is creating a strong enough agreement to stay out of court. Legal fees can run into the thousands of dollars, and the bad press associated with going to trial can damage a business’ reputation. “In most instances, businesses don’t want to bring the clients into the process.”