Indiana Business Law – Non-Compete Agreement: Former Employer Has Protectable Interest in Customer Goodwill; Proper Measure of Damages for Breach of Non-Compete Agreement is Lost Net Profits as Liquidated Damage Clause was Unenforceable
This past May, the Indiana Court of Appeals ruled on a breach of a non-compete agreement case addressing whether a former employee’s covenant not to compete with his past employer was enforceable under Indiana law and determined the proper measure of damages for a breach of this agreement. Coffman, an employee of Olson & Co., an accounting firm (“Olson”), signed…