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Many companies accumulate trade secrets, such as pricing schemes, business plans, and production shortcuts, but they don’t want competitors to tap into this private reserve of knowledge. The easiest way for a competitor to obtain these secrets is by hiring one of your key employees. A recent case from the U.S. 5th Circuit Court of Appeals (whose rulings apply to Texas, Louisiana, and Mississippi employers) covers this topic and is currently in progress.
Before we get into the case, here are the basics:
First, you can require prospective employees to sign a noncompetition agreement, which prevents
