Creating a knowledgeable employee base with a documented structure of training and operation is much of the value of a business. This is especially true where the business depends on skilled or professional employees. To recognize and preserve this value there should be an agreement between the employer and employee regarding confidentiality, trade secrets, and competition.
For a business that is being considered for purchase by a sophisticated buyer, the documentation of this value by such an agreement is important. This contract should be appropriate to the laws of the state of enforcement and artfully drawn by a lawyer, but primarily it should document the reasonable expectation of an employer about the conduct of employees.
