Protecting Your Business: A Guide to Non-Compete Clauses and Restrictive Covenants

An employee builds up valuable knowledge and contacts during the time that they work for you, but your commercial interests may be vulnerable if they leave and go on to work for a competitor. It is therefore prudent to take steps to protect confidential information, such as pricing strategies, bids, or cutting-edge research, and to guard relationships with clients or suppliers that could be exploited to another business’s advantage. At the start of employment, employers often include restrictions, known as restrictive covenants, on what an employee can do with information and contacts gained during their employment. However, even if a former employee could damage your business, there are limits on the restrictions that can be placed on them and how far you can prevent them from competing with you. What are non-compete clauses? Non-compete clauses are…

Shareholder Disputes: what happens when shareholders fall out?

Disputes between company owners are not uncommon and can range from disagreements about strategy and management through to allegations of breach of fiduciary duties and breach of trust. These disputes can have serious ramifications which may threaten the financial security of your business. The legal framework for addressing shareholder disputes in England and Wales is primarily governed by the Companies Act 2006 alongside the company’s articles of association and any Shareholder Agreement. There are three main remedies available to you as a shareholder of a company if you think that your rights as a member have been compromised, whether that is because of money being taken such as by paying unauthorised dividends or paying excessive salary or other breaches of company duties or company mismanagement. The principal remedies are: Presenting an unfair prejudice petition…

How will the farm be dealt with after your death?

Handing over the farm you worked so hard on for so long to a new generation may seem like a heart-wrenching decision – which may explain why a University of Exeter study reveals that only 20% of farmers in the UK plan to fully retire. However, even if you intend to keep working until you die, it’s important to put measures in place to ensure your farming business can continue to thrive and your loved ones don’t face a crippling tax bill after your death, as Emma Elwess, Director & Head of Wills & Probate at Ware & Kay incorporating Pearsons & Ward Solicitors in Malton, explains. What happens to your farm after you pass away largely depends on how it’s held. If the freehold is in your sole name or jointly held as tenants…

Arbitration in family law – could this help us?

When trying to resolve matters relating to matrimonial finances, or deciding on certain child arrangements after a relationship breakdown, one alternative to court, for a privately funded family law case is arbitration. ‘Arbitration involves the appointment of an independent arbitrator who will be presented with the facts of the case from each side. After evaluating all the information, they make a decision which is akin to having a court judgment without the protracted process of litigation,’ explains, Samantha Sinclair, Head of Family with Ware & Kay incorporating Peasons & Ward Solicitors. ‘Arbitration can remove delay and bring swift closure, as long as you are willing to accept the arbitrator’s decision as it is difficult to challenge.’ Below, Samantha explores some of the things to consider when deciding to opt for arbitration. The benefits of arbitration…