Unlock Electronic Signature Legitimateness for Non-Compete Agreement in India

How to eSign a document: electronic signature legitimateness for Non-Compete Agreement in India

-These days, American workers are often asked to sign non-compete agreements that may later limit their right to work for a competitor or even to start a business. It's not just for CEOs and top executives anymore. A survey I conducted with two colleagues show that around 20% of American workers have signed a non-compete agreement. And that covers everyone from high tech workers to sandwich shop employees. So why are non-competes so popular with employers these days? Frequent job hopping means that knowledge and skills are mobile too and that makes companies feel pressure to limit your post-employment options. At best, they do this to protect company knowledge from finding its way to competitors. But at worst, these agreements are used to scare employees and may even have an impact on innovation across the entire economy. But no matter where you work or why you are asked to sign one, there are five things you need to do before and after you sign your name on that dotted line. The first thing you should do is read it and read all of it. It sounds like common sense, but many otherwise savvy business people fail to scrutinize these clauses. And I get it. Everyone is enthusiastic when they start a new job. And these contracts are sometimes slipped into a bunch of other paperwork on that first day of work. But you need to know what you're agreeing to should you decide to leave to work for a competitor in the future. Second, you don't want to be surprised when a potential employer springs an agreement on you. This can be a factor in which job you accept and even give you leverage to negotiate for a larger salary, since you are giving up future rights. Next, you'll want to know what laws exist in your state and how they impact you. States vary a lot on how vigorously they enforce these non-compete agreements and under what circumstances they do. So you should do some research and contact a local attorney for advice so you know what rights are at stake before you sign an agreement. Fourth, don't assume that the terms you're asked to sign are standard or non-negotiable. Our survey showed that most workers do not negotiate their non-competes, often because they think the terms are set in stone. Or they don't want to be uncooperative or seem disloyal. But employers might consider compensating you in some other way in exchange for these restrictions. Negotiating may cause some tension. But it also may be best for you in the long run. And if done right, it will signal to the employer that you are diligent and thoughtful. Finally, keep a copy of the agreement and all the other employment documents you sign in a place where you can find them. Before you look for a new job, review what you have agreed to do once you leave your current job, things like what can't you do with regard to specific clients or company information, things like recruiting your coworkers, or even joining specific competitors. Refreshing your memory now may save you and your next employer from receiving a nasty letter from your last boss's lawyers. Thanks for watching. We'd love to know more about your experiences in this area. So please leave a comment below to let us know what you thought. And please subscribe to the Ross YouTube channel. It's much less of a commitment than signing a non-compete agreement. Plus, it will also let you know when videos like this become available. [MUSIC PLAYING]