Rebound: A Proven Plan for Starting Over After Job Loss

Chapter 11 A Word About Noncompete Agreements

Noncompete agreements can quite literally have you coming and going. If you’re not careful, you could be signing away your ability to earn a living doing what you do best. But if you’re really smart, you can turn that agreement into added cash in your severance package. If you’re not so smart, you could turn that agreement into leaden handcuffs that prohibit you from practicing your career anywhere else for a certain amount of time.

The most common times when you could be asked to sign a noncompete agreement are when you’re about to start a new job (where they have you coming), and when you’ve been asked to leave your job in a layoff situation (where they have you going). When you start the new ...