How to Quit Your Day Job Gracefully
Kevin Troutman, a partner in the Houston office, was quoted April 22 on Entrepreneur.com in the article “How to Quit Your Day Job Gracefully.” The article focused on the challenges that people can face when making the decision to leave their place of employment to start their own business. Making the leap from trusted employee to friendly competitor can be a rocky path, especially when noncompete agreements are involved. Kevin advised carefully reading what the noncompete says. "If it defines what you can and can't do, that's going to be your guiding point." Contrary to popular belief, many businesses take legal action when an employee violates a noncompete agreement, and the courts do enforce them. Sometimes the only option is to wait out your noncompete. But that doesn't mean you have to sit idle. "You can prepare to compete" he added, noting that your employment contract and state laws will usually dictate how and when you can do so. In many states, for example, you can form a corporation during the noncompete period so long as active competition is not commenced during employment. You also can work on your business plan, as long as you don't tell customers what you're up to.