With Fifield, Illinois now poses onerous consideration rules
Two years is a long time for an employee to stay in one place. According to the US Department of Labor’s Bureau of Labor Statistics, more than one quarter of all US jobs have tenures of less than two years.
Yet, in Fifield v Premier Dealer Services, Inc, 2013 IL App (1st) 120327 (2013), the Illinois Appellate Court has just held a nonsolicitation and noncompetition covenant unenforceable for lack of consideration because the employee’s job with his employer did not last two years after he signed the covenant, even though he had received a new job in exchange for the covenant, and even though he was the one who quit.
While other states require some minimum employment term under certain circumstances, the blanket two-year requirement in Illinois now poses one of the most onerous consideration rules in the US…
If you are registered and logged in to the site, click on the link below to read the rest of the DLA Piper briefing. If not, please register or sign in with your details below.
News from DLA Piper
News from The Lawyer
Briefings from DLA Piper
DLA Piper has released the 1 September 2014 issue of its Health Alert, which focuses on judgments, legislation and reports in the health sector.
DLA Piper’s privacy experts have compiled a list of dos and don’ts for addressing privacy compliance in M&A transactions.
Analysis from The Lawyer
Shearman & Sterling is making its presence felt in the City, squaring up to magic circle firms and looking to muscle in on key relationships. Private equity house Bridgepoint is one outfit that has had its head turned by the US firm.
A new breed of lawyer is smoothing the path for companies entering emerging or unstable jurisdictions