Yesterday, April 23, 2024, the Federal Trade Commission issued a much anticipated final rule banning non-compete agreements. The final rule, which is effective September 4, 2024, prohibits any person (including business entities) from entering into or attempting to enter into a “non-compete clause.”
During a recent webinar, Denny Major discussed the latest updates employers need to know about non-compete agreements and overtime requirements. In this blog post, Denny will highlight key takeaways and considerations for employers related to non-compete agreements.
On Thursday, January 5, 2023, the Federal Trade Commission (FTC) proposed a rule that would bar all U.S. employers from enforcing and imposing non-compete agreements on workers. The proposed
rule – if ever finalized – would have significant legal and business ramifications on the U.S. labor economy.
Last week, the White House issued a “State Call to Action on Non-Compete Agreements” that calls for “state policymakers” to pursue certain restrictions on the use of non-compete agreements. It also released a report entitled “Non-Compete Reform: A Policymaker’s Guide to State Policies,” which includes an assessment of each state’s non-compete laws.