What are the advantages and disadvantages of starting a record company while being employed in another company? Whether the company is involved in the business of music or not?
Some companies have this agreement called "a covenant not to compete", or "a non-compete clause" (aka NCC), and basically what this agreement does is prohibit the employee from starting their own company and competing with the former employer for a designated period.
Well, a no-moonlighting clause will prohibit you as an employee from engaging in any business activities even though unrelated to the employee’s job. Do you understand what that means?
Well, a no-moonlighting clause will prohibit you as an employee from engaging in any business activities even though unrelated to the employee’s job. Do you understand what that means?
You also have to watch out for a non-disclosure agreement because this will prohibit you as an employee from discussing your former employer's trade secrets or better yet stop you from using them in the case that you decide to start your own company.
Some companies have this agreement called "a covenant not to compete", or "a non-compete clause" (aka NCC), and basically what this agreement does is prohibit the employee from starting their own company and competing with the former employer for a designated period.
In addition, all these legal restrictions can lead to a lawsuit that will slow down a new company's growth because the former employee would have breached their previous employment agreement.
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