Have you ever been asked to sign a non-compete agreement by an employer? Surveys show that around 20 percent of American workers have signed one. While there are many reasons that an employer may ask you to sign a non-compete agreement – one common motive being an attempt to keep company knowledge from getting to competitors – it is important for you to fully understand what you are signing as the agreements could limit your right to work for a competitor or even start your own business in the future.
In a recent video from the Ross School of Business, Michigan Ross Professor Norm Bishara discusses why non-compete agreements are popular a popular tool for businesses and provides five steps to take before and after you sign a non-compete clause.