f I signed a non compete contract with my broker dealer and they have never returned a signed copy to me, is it valid? As well, I had resigned prior to the agreement, they convinced me to come back. Only after

Never received a cosigned non compete contract.
Non compete was forced upon me, and signed by me under duress. Threat of loss of employment

1 answer  |  asked Apr 25, 2016 08:04 AM [EST]  |  applies to New York

Answers (1)

V Jonas Urba
Maybe. New York courts, in general, are not fond of non-compete agreements because they impair a person's ability to earn a living. However, with that said, non-competes have been upheld when an employer has a legitimate business interest which it is protecting and sometimes an employer has invested resources and may incur losses which it legitimately may be entitled to protect against.

Bottom line is that there is no yes or no answer. Each fact scenario, occupation, business, industry, scope, limitations, geographic prohibitions, time limits, and specific prohibited activities or industries need to be evaluated on an individualized basis.

If they gave you the document, you signed it and returned it to them you can presume they signed it immediately upon receipt. Providing you a copy is not required.

Duress? If I gave you my car to make a delivery and required you to sign an agreement that you would indemnify me for any accidents or injuries which happen while you drive my car and you need the money to pay your mortgage would a court excuse you from indemnifying me for the million dollar accident which resulted when you pulled out of my driveway?

Pay a lawyer to review your non-compete. The consultation will definitely be cheaper than retaining an attorney to appear on your behalf in any courthouse if your new employer fires you (which they sometimes do since few want to be dragged into litigation) and you are served with a lawsuit to stop competing with your prior employer.

posted by V Jonas Urba  |  Apr 25, 2016 10:45 AM [EST]

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