Firms step up non-compete use to protect tech, data IP
US states are increasingly banning or limiting the use of non-compete contracts, but financial firms are using them more frequently to safeguard proprietary tech and data assets—including the knowledge of the individuals who work on them.
Financial firms’ proprietary technologies play an increasingly important role in their ability to generate alpha and trade faster and better than their rivals. So it’s not surprising to see the headlines and courts full of examples of firms alleging that others have lured away their talent or accusing individuals of recreating one firm’s game-changing applications at their new employer.
In the past, intellectual property (IP) generally referred to physical assets, such as client lists, or perhaps
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