In the latest Boardroom Insider newsletter, Gunster attorney Mike Freed discusses whether or not board members should sign a non-compete agreement when they have multiple interests in that industry. Freed explains that the responsibilities of a board member, like fiduciary duties of loyalty and care, can make a non-compete redundant and unnecessary. Board members must put the interests of the company first, before their own. This, in most cases, dissuades any wrongdoing on behalf of the board members. Ultimately, asking a board member to sign a non-compete is usually excessive.
Freed is based out of the Jacksonville office and is a part of Gunster’s business litigation team. He has a wealth of experience in the courtroom and arbitrations, administrative proceedings and other forms of dispute resolution. He serves as counsel for a variety of companies, with regular involvement in personnel matters, labor relations, contract negotiations, insurance, risk analysis and strategic planning.
Read the full article: Should boards use noncompete agreements?