Minnesota is home to a number of high-profile companies doing business nationally and internationally. The executives and other top-level players in these companies are paid handsomely for their knowledge, expertise and leadership skills. But because they are usually entrusted with company-owned intellectual property and business secrets, their contracts usually include a non-compete agreement.
These agreements protect a company in the event that one of their employees is tempted by a better offer from a competitor. Employees typically agree that they won’t work for a competitor (or do substantially similar work) for a certain period of time or within a certain geographical radius from the business they are leaving. In the type of high-paying positions mentioned above, non-compete clauses are often necessary and appropriate.