Foreman Law

🚨 LEGAL UPDATE 🚨: FTC Ban on Non-Competes - Still On Track...For Now A US District Court Judge partially blocked the law from going into effect, but only with respect to a handful of specific employers. As a result, the FTC ban on most non-competes is still on track to go into effect September 4, 2024, for now. The judge still may block the law from going into effect. If that happens, it will probably happen by August 30, 2024. I think the law will probably be overturned or substantially limited at that time. What does that mean for employers? Unfortunately, you'll need to prepare to comply with the law, and prepare for the possibility that it won't go into effect. Workers impacted by the law also can't make effective plans either until there is a clear legal answer. Read more about the law here: https://lnkd.in/g-hPbnNT Here's an overview of some of the issues with the law: https://lnkd.in/gcH7_Egs #NonCompete #FTC #BusinessOwner

M&A Tip: Manage Relational Capital Doing a deal with people that like and trust each other can feel like a breeze. Everything seems to run smoother- responses, decisions, etc. Their requests of each other are more reasonable, and often more thoughtful. Their stress levels are often lower which tends to improve the quality of their decisions and the quality of their interactions. I like to think about Relational Capital like an account balance. If you invest in the relationship, it provides a return. If you take good care of the relationship, the balance can be high enough that when you need something, you have something to "spend" from the account. Deals are full of requests people don't have to agree to. Not every request has to be an exchange, especially if the other party actually likes you. Likewise, when you don't take care of the relationship, or do things that "withdraw" from the account, the balance can get really low. Eventually, the balance can get so low, that the relationship runs a deficit. In those settings, everything gets way more complicated and much more difficult. People stop talking to eachother. Communicating only through lawyers, who sometimes start to reflect the relationship posture of their cients. Eventually, it can be a really good recipe for killing the deal. And if the deal is fortunate enough to still close, toxic relationships can become a fertile ground for post-closing litigation. Focus on all the relationships necessary to get the deal done, not just the parties. Sometimes its key team members or customers. Skip the zero-sum games. They don't usually work. Be good to people. Do deals with good people. Take good care of relationships. If you find this helpful, please let me know, or share it with someone else that might benefit. This post isn't legal advice and doesn't form an attorney-client relationship. #MergersAndAcquisitions #MandA #GoodMandA

30+ M&A advisors and service providers came together yesterday We mingled, got to know each other and talked about strengthening the local ecosystem in Wichita 🥳🥳 I am excited for the future of this community. Collective intelligence put to work will enevitably allow for greater collaboration and a stronger market. Thanks you Sam Foreman for blindly saying yes to this idea and helping pull it off. Thanks to Daniel White for leading a great interactive discussion!