Teaching Entrepreneurship: The Importance of Noncompete Agreements to the Viability of the Enterprise‪.‬

INTRODUCTION Entrepreneurs face a myriad of challenges, not the least of which is hiring, training and managing employees who may one day become competitors. Business owners must prevent their trade secrets, customer lists, and other proprietary information from being used by a current or former employee to the detriment of the enterprise. Employees, especially those who have worked for a business for several years, may become particularly familiar with day-to-day business operations. Having learned the trade and its processes, these individuals may sense an opportunity to venture out on their own and establish a competing business. The entrepreneur's recourse is to utilize a noncompete contract to protect the firm's interests.