Legal Question in Business Law in Wisconsin

Noncompete Nondisclosure Situation (PT 1)

Hi, I hope someone can help me.

I just started a business and in order to protect my interest I created an agreement that gets signed before we continue our sales presentation, which says:

The information contained in this presentation is proprietary and for use only to those who engage in business with [COMPANY NAME WITHHELD].

By continuing with this presentation you are agreeing not to disclose or compete with [COMPANY NAME WITHHELD] in any way for a period of 3 years. Whether as a competing business or by engaging in the personal development and use of a similar discount card program to that listed in this presentation.

If you break this agreement you will be liable to [COMPANY NAME WITHHELD] for either 50% of the proceeds from your program revenues or $7500, whichever is greater.

If you are not willing to agree to this please let us know now and this presentation will be over.

Now we have a company who loves our concept and product but says he is going to do it himself. When my sales person pointed out that he read agreed to and signed the ''NCND'' agreement he went crazy and actaully threatened him with phycial harm.

Am I protected against a company or person taking my idea?


Asked on 6/22/04, 4:33 pm

1 Answer from Attorneys
Maury Beaulier612.240.8005 Minnesota Lawyers

Re: Noncompete Nondisclosure Situation (PT 1)

He signed what appears to be a valid confidentiality agreement. As a result, an injunction could be issued and a suit filed in the event that the agreement is violated.

I would suggest having your attorney fire off a warning letter regarding the consequence of a breach.

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Answered on 6/22/04, 5:34 pm


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