Attorney Jeremy Goldstein Explains Why Companies May Want To Use Non-Compete Agreements

Jeremy Goldstein is an NYC attorney who specializes in executive compensation. A partner at Jeremy L. Goldstein & Associates, he provides legal advice to CEOs and compensation committees. His help is usually sought during transformative events such as a merger or acquisition. Companies he has advised include eviCore, IBM, United Technologies, Oracle, Bank of America Corporation, South African Breweries Plc, and Philips Petroleum Company.

He is a graduate of Cornell University and the University of Chicago. His law degree was earned at the New York University School of Law. Jeremy Goldstein spent the first 15 years of his career working as an attorney for Wachtell, Lipton, Rosen & Katz. He was a partner at this firm when he decided to establish his law firm. He saw other executive compensation consultants split from large companies and figured he could do the same as a lawyer.

His work as a lawyer has exposed him to how common conflicts of interest between employers and employees occur. A company needing to enforce a contract with an employee is also more common than one would expect, he says. He advises his clients about non-compete agreements. These are also known as non-compete covenants or restrictive agreements. The main reason to have an employee sign a non-compete agreement is that the employer protects their rights in certain situations.

Jeremy Goldstein says a for a specified length of time. It might also have language that they can’t work in a particular geographic region for another employer in the same industry. These agreements are especially useful for employees that have access to patented ideas or corporate strategies. A non-compete agreement can prevent them from using this knowledge for their own personal gain at a competing company.

He does caution that, in many cases, a court won’t enforce a non-compete agreement. This may be because the judge finds that it is too restrictive. They may also find that it unduly influences an employee to stay with a company they have signed this agreement with. Jeremy Goldstein says that non-compete agreements have to be written in a way that serves the interests of the company and prevents critical business information out of the hands of direct competitors.


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