View Full Version : When employees steal your business

12-18-2006, 06:33 PM
This is a crazy story and a good reminder of what can go wrong when your employees quit and take along your customers to their new business.

Have you ever dealt with this? What systems do you have in place to keep this from happening?

Who stole my business? (http://money.cnn.com/magazines/fsb/fsb_archive/2006/12/01/8395132/index.htm?postversion=2006121207) - Debra Killian thought she was having a bad day when a backache forced her to stay home from work. Eager to see what was happening at Charter Oak Lending Group, the mortgage company she had started with her husband, Don DeRespinis, Killian logged on to her computer and checked the status of loans in the pipeline.

Within seconds it became clear that her back pain would pale in comparison to what was about to hit. Loan after loan popped up as "suspended." While that had occasionally happened in the past - a deal could fall through, or a client might not get approved for financing - it was highly unusual to see a large number of lost loans at the same time. Killian called DeRespinis. "Have you checked the system?" she asked. "What the #### is going on?"

By the time DeRespinis looked into it and called her back, four of Charter Oak's employees had quit without giving notice.


12-19-2006, 09:03 PM
That is probably one of the worst cases that I have ever heard.

When I had employees work for me they had to sign a waiver starting that they could not work for another local competition company in the area or start a new business until one year after termination. It is perfectly legal to do as well. Other states may have different laws regarding it though. It guarded me against employees trying to take any of my customers out from under my nose

12-19-2006, 11:59 PM
I am glad you had them do that.

01-11-2007, 05:35 PM
Thats why you have a non compete agreement. Some companies in my area have it last up to 5 years.

01-29-2007, 03:58 PM
Would anybody be able to supply me with a copy of some sort of non-compete agreement. Or maybe even point me into the right direction. Thanks in advance.

01-30-2007, 09:04 AM
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Check out this site (http://www.ilrg.com/forms/independent-contractor-addendum.html)

Let me know if that helps.

01-31-2007, 02:12 PM
Thank You!!!!! *http://www.gophergraphics.com/forum/iB_html/non-cgi/emoticons/smile.gif