As an employee in the state of Florida, it is likely that you will have signed a non-compete agreement at some point or another. This means that you may be limited in terms of the types of companies or organizations that you will be able to work for in the future.
A Lakeland physicians group has been ordered to pay $500,000 after its billing company allegedly compromised patient privacy.
As a business owner, you know who the key players on your team are -- and you understand the potential risk that your business faces if a team member decides to leave and set up shop elsewhere. Everything from your client list to your plans for a new product could be at risk. You probably have noncompete agreements in place with at least some of your employees.
It's estimated that 20 percent of American employees -- from all different kinds of industries -- are subject to noncompete clauses. In theory, noncompete agreements are designed to protect high-level secrets, client lists and intellectual property from being misused by ex-employees who want to go into business for themselves.
Entering into a contract with another individual, a business, a vendor or an employer can be risky if you don't know what you are agreeing to when you sign on the dotted line. Make sure you read the entire contract from start to finish and ask questions. Have it reviewed by an attorney to protect yourself. Here are some examples of breach of contract cases.
There are many things that can happen if you breach your employment contract as a doctor. One likely result is that you'll be terminated from your job. You may also be asked to pay damages for violating its terms.
When two parties enter into a binding and lawful contract and one party fails to uphold their end of the bargain, the other party may have the ability to pursue a legal claim for damages. In cases where the contact involved a loan or regular payments to be made by one party, if the other party fails to make those payments, then the amount to pursue in such a lawsuit is relatively straightforward.
You sign a noncompete agreement when joining a company, knowing that it limits the scope of your work outside of that company but also thinking that you are probably never going to leave anyway. This is a dream job.
A handshake deal often feels like a good idea when it is proposed. You know the other person. You both want to work together. It seems like a great partnership. If anything, you worry about coming off as insulting if you demand that the two of you sit down and write out a contract.
It is critical to understand a noncompete agreement entirely when using one, especially in the medical field. These agreements, when legally binding, can have a drastic impact on someone's future.