Many employers utilize binding arbitration to resolve employment-related disputes with their employees. The advantages of binding arbitration include savings of time and cost, limited discovery, a more expedited process than court procedures, and, hopefully, smaller attorney's fees.
Employees have access to a business's valuable information and trade secrets during their employment. But what happens when they no longer work there, or if they leave to work for a competitor? It's important to consider the effect that it would have on your business if this scenario were to happen, and to take the necessary precautions.