Major Changes in Non-Compete Agreements
On May 31, 2011, the Colorado Supreme Court reversed the Court of Appeals decision in the Lucht’s Concrete Pumping, Inc. v. Horner matter.
What does this mean for employers and employees?
- Going forward, employers may renegotiate the terms of an at-will employment by requesting an existing employee to sign a non-compete agreement without additional consideration.
- Meaning: No special payments, bonuses, promises, wage increases, etc., have to be given to the employee for signing the non-compete agreement.
- Remember: An at-will employee may be terminated at any time by an employer because there is no employment agreement in place: HOWEVER, it is always wise to consult your attorney before you fire an at-will employee.
Advertisement: This information is for general purposes only and is not intended to constitute any specific legal advice of any type.