PRESERVATION OF TRADE SECRETS AND NON-COMPETE AGREEMENTS: THE ELEMENT OF REASONABLENESS AND CONSEQUENT ENFORCEABILITY

Adesina-Babalogbon, Oluwafunmilayo and Abibu, Akinyemi (2020) PRESERVATION OF TRADE SECRETS AND NON-COMPETE AGREEMENTS: THE ELEMENT OF REASONABLENESS AND CONSEQUENT ENFORCEABILITY. In: 2nd International Conference, The Federal Polytechnic, Ilaro,, November, 2021., Federal Polytechnic, Ilaro.

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Abstract

Businesses run on ideas and concepts. The level of creativity involved in coming up with the ideas endears clientele to them and separates them from similar businesses. The imperative need for businesses to keep their product formula free from public utilization and exploitation sometimes necessitates their self-seeking advances to keep their employees from working with their rivals. With numerous resources available for the purpose of protection of trade secrets, businesses and organisations are more encouraged to explore one or more of them. The most common of these resources is the non-compete agreements employees are made to sign before assuming their duties. This invariably keeps them from releasing trade secrets with companies that stand to profit from such knowledge. One of the challenges that may arise is the enforceability status of the agreement. What factors incline the court to grant judicial remedies in respect of a non-compete agreement? Do these types of agreements advocate for the interest of both the employer and the employee? How reasonable are the restraining clauses inserted to impede the career chances of the employee? What effects do these types of agreements have, particularly on the disadvantaged party? How do the courts determine if a non-compete agreement is enforceable? These are questions that this article seeks to provide answers to. It concludes by recommending that such agreement ought not be verbose as to be ambiguous and broad in its applicability. This research work is essentially qualitative and was written with the aid of data from journal articles, judicial decisions and statutes. Keywords: Trade Secrets, Non-Compete Agreement, Intellectual Property, Non-Disclosure Agreement, Employment.

Item Type:	Conference or Workshop Item (Paper)
Subjects:	K Law > K Law (General)
Divisions:	Faculty of Law, Arts and Social Sciences > School of Management
Depositing User:	Unnamed user with email [email protected]
Date Deposited:	11 Oct 2022 11:12
Last Modified:	11 Oct 2022 11:12
URI:	http://eprints.federalpolyilaro.edu.ng/id/eprint/2017

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