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Keef

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Posts posted by Keef

  1. 8 minutes ago, troph said:

    I think non-solicitation clauses should be enforceable, obviously confidentiality and trade secret clauses too but straight up non-competes are bullshit - though high level executives it’s justifiable but those deals almost always come with a $1 for $1 severance package for the length of the non-compete. Looks like exec non-competes are still enforceable. 

    Right, but if you can't solicit customers (often defined to include prospective or even likely customers), employees, or consultants, and you are prohibited from using confidential information you learned in your old job in any way (with confidential information typically being defined broad enough to encompass anything under the sun), how is that practically speaking different than a non-compete?  And sure, maybe some portion isn't enforceable, but do you really want a lawsuit with your former employer on your record if you're an executive?  Plus, a lot of companies - especially PE backed ones - have language in their equity award agreements that if you violate any restrictive covenants post-termination, they can clawback their equity and sometimes even past proceeds.  Many states permit the equity clawback under the argument that isn't prohibiting you from competing - it is merely taking back some contingent compensation you were paid in the past.  See how this gets murky quickly?

    • Hook 'Em 1
  2. 1 hour ago, Sawbonz said:

    All I know about is medical field sales and marketing; literally none of the companies give a shit. If they want a rep they hire the rep and park them somewhere for 6,9, or 12 months. With this I imagine they will have them start immediately and dare the old company to sue.
     

    I guess we will see but I really doubt you are going to see a slew of lawsuits related to bullshit IP allegations, and Client lists are a known risk (it’s usually the major reason for “poaching” the employee and workarounds are already in place)

     

    Yeah, we work in different industries.  For tech companies and most PE back companies, they care about this a ton.

  3. Just now, Sawbonz said:

    I’m pretty sure the employers are going to have to sue to enforce. Default interpretation will favor the employees. Nonsolicitation is valid concern but super easy to get around, and not many companies truly have trade secrets that the new employer is going to care about (and if they do that’s valid as well)

    It's still a practical problem.  Every competently drafted offer letter in the world has language where you're required to disclose any restrictive covenants that you're subject to.  Once disclosed, you have to convince your new employer that whatever restrictive covenants you have in place aren't enforceable and the old company won't sue you and them in order to try and enforce it.

  4. This is going to get held up in court for years and employers and are going to do what they what they are already do in California - make the non solicit and confidentiality provisions in the employment contract operate suspiciously like a non compete and dare the employees to sue. 

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  5. 2 minutes ago, Pato del Muerto said:

    Right but why does anyone have to pay to be free before they are proven (well, found is more accurate) guilty if they are considered innocent until then?

    You wanna let Timothy McVeigh or El Chapo walk out of prison because we haven't had the trial yet?  There are good arguments against the current bail system, but this isn't one of them.

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    • Like 2
  6. 1 minute ago, Brisketexan said:

    This.....this number is the one that is absolutely jaw-dropping.

    Imagine putting up a single Chick-fil-A franchise up on the stock market.....and it drawing the kabillion dollars of investment DJT has.  The entire world would be asking WTF?

    LOL.  Trying to imagine the annual proxy of a single Chick-fil-A franchise.  The Company's material risk factors include Ted getting too stoned to man the fryer or a disgruntled customer with a one-star vendetta on Yelp.  The summary comp table includes the owner and a couple of teenagers who incurred a lot of overtime.

    • Haha 2
  7. 10 minutes ago, 956 Worldwide said:

    They telegraphed this and they want the drones and missiles (if they come) to get shot down.

    My first thought as well when they launched a drone attack that would take hours to get there. This is a response with an intent to de-escalate. Or so I hope. 

  8. 1 hour ago, Fudge Nuggets said:

    How many crooks from the GFC went to jail?  Oh, the SEC will drag its nuts all over a day-trader that illegally profited by $5K whose best friend's sister's boyfriend's brother's girlfriend heard a tip from this guy who knows this person who's working with the girl who saw a corporate memo about a new product release.  But the real crooks that steal millions / billions?  Fuck all happens to them except having to manage a "family office" for a couple of years and never having to admit guilt.

    That's all political.  The lack of prosecution from the GFC was a political decision and one made above the heads of the SEC (which I can't believe I'm defending).

  9. 2 hours ago, Fudge Nuggets said:

    Bwahahaha. The SEC is the most feckless agency in the government. Even Merrick Garland thinks they’re weak. 

    A securities law suit isn't an SEC investigation.  I disagree with your assessment of the SEC as well.

  10. 9 hours ago, Grande Mart said:

    This one in Astoria always concerns me a bit. Not to mention all the bridges in Portland knowing they will pretty much all collapse when the great Cascadia Megaquake happens

    Astoria–Megler_Bridge.jpeg

    This and the Bay Bridge in SF always freaked me out when I lived in the West Coast.  You know those quakes are coming eventually, and with the Bay Bridge, you can be stuck there for an hour or more during a busy part of the day.

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