A non-disclosure agreement is a legally binding contract between two or more persons, in which a person or business promises to treat specific information as a trade secret and not disclose it to others without proper authorization. A non-disclosure agreement is also known as a confidentiality agreement, confidential disclosure agreement, proprietary information agreement, or secrecy agreement.
A covenant not to compete refers to an agreement to ensure that an employee will not compete against an employer or former employer. By this an employee agrees not to pursue a similar profession or trade in competition against the employer. Restrictions to prevent competition by a former employee are held valid when they are reasonable and necessary to protect the interests of the employer. Courts will closely examine covenants not to compete signed by individuals in order to make sure that they are not unreasonable as to time or geographical area. Courts may also look to public welfare. An agreement between a doctor and a clinic that if the doctor leaves the employ of the clinic, he will not practice within the city in which the clinic is located for the next five years may be held to be invalid if the city needed more than one doctor (assuming there was just one).
A limited liability company (LLC) is a separate legal entity that can conduct business just like a corporation with many of the advantages of a partnership. It is taxed as a partnership. Its owners are called members and receive income from the LLC just as a partner would. There is no tax on the LLC entity itself. The members are not personally liable for the debts and obligations of the entity like partners would be. Basically, an LLC combines the tax advantages of a partnership with the limited liability feature of a corporation.
An LLC is formed by filing articles of organization with the secretary of state in the same type manner that articles of incorporation are filed. The articles must contain the name, purpose, duration, registered agent, and principle office of the LLC. The name of the LLC must contain the words limited liability company or LLC. An LLC is a separate legal entity like a corporation.
A Professional Limited Liability Company (PLLC or P.L.L.C.) is a limited liability company organized for the purpose of providing professional services.
A Wisconsin Employment Agreement between a Physician and a Professional Limited Liability Company (LLC) with a Nondisclosure Agreement and Covenant not to Compete is a legally binding contract that outlines the terms and conditions of employment between a physician and a professional LLC operating in the state of Wisconsin. This agreement is specifically tailored to meet the unique requirements and regulations governing physician employment in Wisconsin. Keywords: Wisconsin, Employment Agreement, Physician, Professional Limited Liability Company, Nondisclosure Agreement, Covenant not to Compete. Types of Wisconsin Employment Agreements between Physician and Professional Limited Liability Company with Nondisclosure Agreement and Covenant not to Compete: 1. Full-time Employment Agreement: This type of agreement is designed for physicians who will be working on a full-time basis for the professional LLC. It outlines details such as compensation, benefits, working hours, vacation time, and the physician's responsibilities within the LLC. 2. Part-time Employment Agreement: This agreement is suitable for physicians who will be working on a part-time basis for the professional LLC. It ensures clarity regarding part-time work hours, compensation, benefits, and the allocation of responsibilities. 3. Term-based Employment Agreement: Term-based agreements define a specific duration of employment between the physician and the professional LLC. These agreements may be used when the physician is hired for a fixed period or project-based work. They outline the terms of the contract, including compensation, duration, and termination provisions. 4. At-will Employment Agreement: This type of agreement establishes an employment relationship between the physician and professional LLC without specifying a fixed duration. Either party may terminate the agreement at any time, with or without cause, provided notice is given as outlined in the agreement. 5. Locum Teens Employment Agreement: This agreement is used when a physician is hired on a temporary or substitute basis. It outlines the terms of the physician's services, compensation, responsibilities, and the duration of the locum tenens arrangement. The Nondisclosure Agreement ensures that sensitive information shared between the physician and professional LLC remains confidential. It prohibits the disclosure or use of proprietary or confidential information obtained during the course of employment. The Covenant not to Compete provision restricts the physician from practicing medicine within a specific geographic area for a certain period after termination of employment. This safeguards the professional LLC's interests and prevents the physician from directly competing against the LLC in the same market. It is important for both the physician and professional LLC to carefully review and negotiate the terms of the agreement to ensure clarity, fairness, and compliance with applicable laws and regulations. Consulting legal professionals experienced in physician employment contracts is advisable to ensure the agreement meets specific needs and adheres to Wisconsin state laws and regulations.
