Ethics and compliance concerns pervade today’s business world. Companies worry about everything from conflicts of interest to ethics to anti-bribery. Because of their importance, it is critical that we properly address compliance in our contracts. Everyone who works with contracts needs to know what compliance provisions should say and how to negotiate them.
When an employee leaves a company, they usually take with them proprietary secrets and other insider knowledge. In order to protect the business, many employers have their soon-to-be former worker sign a confidential separation agreement. These allow both parties to move forward with a shared understanding of what constitutes privileged information. They also clarify other important parting business, such as what the company considers to be non-competition and what constitutes a fair severance package.