Why Are Noncompete Agreements So Common?
BrainStuff
iHeartPodcasts
3.9 • 1.7K Ratings
🗓️ 26 August 2021
⏱️ 9 minutes
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Summary
Businesses say noncompete agreements protect their interests -- but when they apply to everyone from VPs to janitors, are they overkill? Learn how noncompetes work in this episode of BrainStuff: https://money.howstuffworks.com/noncompete-agreements-news.htm
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Transcript
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| 0:00.0 | 13 Days of Halloween Penance. Season 4 of the award-winning horror fiction |
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| 0:34.4 | Welcome to Brain Stuff, a production of iHeartRadio. |
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| 0:42.0 | If you're working for a company that you don't like and decide to go work for its competitor instead, |
| 0:48.4 | will that first company come after you for switching jobs? |
| 0:52.3 | That can depend on whether you signed a non-compete agreement. |
| 0:56.9 | A non-compete agreement is a type of contract that prevents an employee from working for |
| 1:01.6 | a competitor within months or even years after leaving a particular company. |
| 1:07.0 | In other words, a non-compete clauses are designed to protect an employer |
| 1:11.3 | against workers taking their talents and trade secrets to the competition. |
| 1:16.0 | That might make sense for high-paid corporate executives, |
| 1:20.1 | TV anchors, or tech workers whose sudden departure to the competition would pose a real threat. |
| 1:26.3 | But the wild thing about non-compete agreements is that American employers have asked all types |
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