Category: Uncategorized

Are Non-Compete Clauses Fair?

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An increasing number of employment contracts are including a non-compete clause, and that has sparked a legitimate debate. Most non-compete clauses say that a person cannot work for a company in a similar industry for one to two years after leaving their employment.

Is that fair? Let’s look at both sides of the argument.

A Non-Compete Clause Preserves A Company’s Investment
When a company hires a new employee, it’s also investing money in training that employee and providing that employee with the expertise they need to do their job. The resulting intellectual property becomes critical in helping the company to compete in its industry. In this way, a non-compete clause makes sense because it helps to protect the company’s investment.

Non-Compete Clauses Can Cause Employment Issues
In a society where people are supposed to be free to work wherever they want, non-compete clauses restrict employment options and can make life unnecessarily difficult for workers. It is often unrealistic for a company to expect a departing employee to find gainful employment in a brand new industry so, in this way, non-compete clauses are unfair and restrict a person’s ability to make a living.

The Company Owns The Property And Not The Employee
Trademark and patent laws are created to allow companies to protect their intellectual property. In some ways, it could be argued that companies are using non-compete clauses as inexpensive patents or trademarks. The company owns the property, but not the employee that created that property. If the issue is the intellectual property, then there are ways to protect that property without restricting an employee’s ability to work.

More Unrealistic Than Unfair
So, are non-compete clauses unfair? The real answer is that non-compete clauses are more unrealistic than unfair. A company that takes the necessary steps to protect its intellectual property should not fear employee turnover. It is simply unrealistic to allow a company to dictate the employment options of an employee a year or more after that employee has left the company.

Whether you call non-compete clauses unfair or unrealistic, the truth is that they should be unnecessary to a properly-run company.

Northborough-based Aspen Aerogels (ASPN) Closes Above IPO Price

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Aspen Aerogels, a Northborough-based company specializing in aerogel insulation, has had their stock price rebound. With products used throughout the energy sector for everything from heat buffering to cryogenic insulation, Aspen Aerogels put out an initial public offering (IPO) on June 13th, 2014. Their initial opening price was $11.00 on 6.67 million shares released to the public. Their IPO, managed by Barclays, J.P. Morgan Chase and Citigroup, opened the trading day at $11.00 and dipped lower, in part because of the Friday announcement day, and in part due to an offering near the end of a calendar quarter, when profit taking tends to sit in the minds of investors.

After an initial dip to $10.53 per share, and trading bounded between $10.25 and $10.60 per share for the last week, Aspen Aerogels’ stock is on the rise – closing 7% above their IPO price at the beginning of this week, with trading volume roughly doubling over the previous week.

Aerogels, commonly called “solid smoke,” made up of silica structures riddled with nanopores, maintaining 97% of their volume as trapped air. This makes aerogels a near-ideal insulation material. Aspen’s proprietary technologies include processes that reduce manufacturing costs and increase the durability of the materials. Aspen’s development strategy has targeted energy sector companies, who have immediate, and extreme, needs for insulation, and ones where weight and efficiency are paramount.

Typical investment strategy with Aspen Aerogels is a buy-and-hold. As an industrial-facing supplier, they do not currently have a direct-to-consumer product. Increasing demand from the energy sector has caused them to double production at their East Providence, R.I. facility, and this IPO is targeted at further expanding their production capacity, with some funding aimed at maintaining R&D partnerships with companies like BASF Construction Chemicals, to create aerogel-based insulation for commercial construction, including products that can be retrofitted into existing structures.

2013 Worcester Pride Parade and Festival

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President and CEO of Worcester Regional Chamber of Commerce, Lt. Gov. Tim Murray, will be attending this year’s annual Gay Pride Parade in Worcester on Saturday, September 7, 2013. Tim Murray is the first grand marshall to ever attend the annual parade. Worcester Pride, an organization who recognizes, promotes and unifies the LGBTQ community, allies and supporters in Central Mass., is in charge of coordinating the annual parade.

Peter Bacchiocchi, a Committee member, stated that, “Historically, Tim – in all of positions as mayor, lieutenant governor and now head of the Chamber – has always been suportive of the LGBTQ community. He has listened to our agenda and has supported it.”

Tim Murray made the following statement, “I am proud to participate in this great event and honored to have been chosen. In my previous positions, I have always represented everyone in our community and as head of the Chamber, look forward to embracing every business. I am also happy to call this community of rich diversity my home.

This year’s theme is Pride = Equality. Laura Farnsowrth, the parade Committee Chair said, “We are pleased that he accepted this honor. When the committee began discussions, it was a natural fit and it was unanimous decision. His returned to the city connected the dots for us. Many small business owners are members of the LGBTQ community and of course, we are all consumers.”

The Worcester Pride Co-Chair, John Trobaugh, spoke about Tim Murray saying, “Tim Murray supported our community before leaving for the statehouse and now that he is back promoting the economic wellbeing of our region, it made sense to the committee to reach out to him! We were all so very excited and honored to have Tim help us renew energy into the Parade!”

The parade begins at 11:00 a.m. on Main Street and concludes at approximately noon at the Worcester Common. The parade has more than doubled in size over the previous year and is expected to increase this year. The parade includes marchers, floats and a marching band as participants.

ABOUT WORCESTER PRIDE:

Worcester Pride has existed is a variety of forms over the past 30 plus years. They work year round to create an environment where LGBTQ individuals and business owners and their allies thrive. Pride believes that a healthy community is an inclusive one. Pride welcomes the participation in and volunteers for community goals and a variety of sponsored events and celebrates those who make specific strides to enhance the visibility of Worcester’s LGBTQ community. The participation of all, regardless of age, creed, gender, gender identity, HIV status, national origin, disability, race, religion or sexual orientation is welcome. Pride sponsors or participates in a variety of events, lectures, and community discourses around LGBTQ advocacy. The organization celebrates those who make strides to enhance the visibility of Worcester’s LGBTQ community. Pride is Equality. They can be reached at worcesterpride@gmail.com and information is available on their website: www.worcesterpride.org.