Updated 2020 National Survey, Interactive Guide to Restrictive CovenantsAugust 24, 2020 – E-Books
Compare restrictive covenant laws and regulations across the United States with Fox Rothschild's interactive 50-state National Survey on Restrictive Covenants, produced by the attorneys of our Securities Industry Group and Labor & Employment Department.
This searchable, user-friendly resource offers map-based navigation and provides key information pertaining to a common element of many employment agreements for in-house counsel and human resource professionals in a variety of industries.
For complimentary access to the interactive guide, contact Securities Industry Practice Chair Ernest Badway at [email protected].
This valuable guide is also available as a PDF in standard e-book format. Click on the image above to download.
As many know, restrictive covenant law is in a constant state of flux and varies considerably from state to state. Moreover, restrictive covenant law changes frequently and often requires a fact-specific analysis. Over the last few years, many states have shown a trend towards increasing requirements for creating enforceable restrictive covenants through state-level legislation.
This interactive tool provides the important details on these changes as well as updates to requirements for drafting and entering into restrictive covenants with new employees, or reforming existing restrictive covenants to comply with new legal requirements. In particular, there have significant legislative changes enacted in Maine, Massachusetts, New Hampshire and Rhode Island, among other states, that significantly alter the requirements employers must meet to draft enforceable restrictive covenants.
Similarly, the protection of intellectual property by these covenants has undergone significant changes in various states. We have included the current requirements for hiring highly skilled employees, and noted the intellectual property protections from competitors. You will also discover the protections that extend to your company’s trade secrets and confidential information as well.
These protections are critical in the securities and financial services industries. It is essential to determine the proper time limit and geographic scope of an employee’s non-compete and non-solicit following termination on a state-by-state basis. Ensuring proper protection of client lists and your rights against competing firms for poaching or raiding brokers or registered representatives, and proper compliance with broker protocol is nearly tantamount to guaranteeing the survival of one’s business.
Finally, we continue to monitor national trends in this field, and are considering if the updates in New England signify a changing national trend to strengthen worker protections from restrictive covenants through state-level legislation, and, if these legislative actions will be mimicked in other states.
We hope you are able to use this interactive version of the National Survey on Restrictive Covenants. If you have any questions, please contact one of the attorneys listed in the survey.
For access to the interactive guide, contact Securities Industry Practice Chair Ernest Badway at [email protected].