This month’s Business Bytes highlights non-competiion contract clauses, privacy protection persistence and umbrella insurance.
Non-Competition Contract Clauses. While there are legitimate needs and purposes for an employer to require its employees to sign non-competition agreements that apply during and after their employment ends, past employer abuses caused many states to prohibit or restrict their use and content. As failure to comply with these laws carries penalties in addition to non-enforceability, any existing and future non-competition agreements should be scrutinized. READ MORE
Privacy Protection Persistence. The obligation to protect private personal information (PPI) is expanding and evolving, as is liability and damage exposure for breaches. Take a broad and long-term view on the collection, use, dissemination, sale, storage and protection of PPI. READ MORE.
Excess/Umbrella Insurance. While seemingly the same, excess liability insurance and umbrella insurance policies offer different protections. Excess liability insurance provides additional insurance coverage above your underlying liability policies, while an umbrella policy does that and usually more, covering claims for which there may be no primary coverage. READ MORE.