As businesses grow and expand, it is common for them to establish an enterprise agreement. This agreement outlines the rights and responsibilities of the company`s owners or shareholders, as well as the organization`s governance and management structure. However, there may be information that is not typically included in an enterprise agreement. Here are a few examples:
1. Day-to-day operations: While an enterprise agreement may include details on how major decisions are made, it typically does not address the day-to-day operations of the business. This includes things like employee scheduling, accounting practices, and marketing strategies.
2. Confidentiality agreements: While an enterprise agreement may require owners or shareholders to keep certain information confidential, it is not the same as a standalone confidentiality agreement. Businesses should have separate agreements in place for employees, contractors, and others who may have access to sensitive information.
3. Intellectual property ownership: While some enterprise agreements may outline how intellectual property rights are allocated, the specific details of ownership and licensing agreements are typically not included. This information may be addressed in separate documents, such as patents, trademarks, or licensing agreements.
4. Non-compete agreements: Similarly, non-compete agreements are typically not included in an enterprise agreement. These agreements govern how employees or shareholders may compete with the business after leaving the organization.
5. Insurance policies: While an enterprise agreement may require the business to maintain certain insurance policies, the details of those policies are not typically included. Businesses should have separate documents outlining their insurance coverage and requirements.
Overall, while an enterprise agreement can be a valuable tool for outlining the structure and governance of a business, it is not a catch-all document. Businesses should ensure that they have separate agreements in place to address issues like confidentiality, intellectual property, and insurance coverage. By doing so, they can protect their interests and minimize the risk of legal disputes.