Choice Bank’s Post

Recently the Federal Trade Commission #FTC voted to issue a final rule that would ban noncompete agreements in virtually all employment relationships. The final rule has not yet been filed in the Federal Register, but is scheduled to take effect 120 days after such filing. Learn More. #noncompete #employment #recruiting #HRP2024 https://lnkd.in/gS4JJU63

Yesterday the FTC in a 3-2 split vote (with strong dissents) released a rule that would ban nearly all non-competes with limited grandfathering for existing non-competes for senior executives and those for selling shareholders in M&A transactions. The rule by its terms could become effective as early as late August but is already subject to two lawsuits so the outcome is unclear. More detail in the attached memo.

The fight over non-compete clauses of employment agreements and company policy continues. While this ban will likely be challenged in court, to avoid litigation (and considering the underlying idea from this regulation - the right to work beyond at one company) companies should think carefully, and at a minimum, narrow their use of non-competes. #employmentlaw #noncompetes

As many are aware, the FTC voted yesterday in favor of its rule effectively banning the use of non-compete agreements. Click the link below for a V&E breakdown of what this means for employers going forward. #Noncompetes #employmentlaw #FTC #noncompeterule #antitrust #unfaircompetition

A new final rule by The Federal Trade Commission (FTC) bans most noncompete agreements. Follow this article to learn options for employers, the potential upside for workers, exceptions to the rule, and so much more… #Business #Businesses #Employer #Employees #FTC #NonCompetes #NonCompeteAgreements #Employment

Recently, the Federal Trade Commission (FTC) issued a final rule banning noncompete agreements in most aspects of employment. Specifically, the agency believes the ban will help promote competition between businesses. As a result of eliminating noncompete agreements, the FTC says a worker’s fundamental freedom to change jobs is now protected. Additionally, the agency believes that innovation will increase and new businesses could be formed. https://lnkd.in/ggqnKez8 #employers #employmentlaw #ftc #noncompete #humanresources

The Federal Trade Commission (FTC) has just decreed that for-profit U.S. employers will no longer be permitted to have employees sign agreements with non-compete clauses embedded in them. 👉 https://lnkd.in/g97HJS7G "The FTC estimates that 30 million people – one in five US workers – are bound by a non-compete clause in their current jobs. And for most of them, the agency asserts, such a clause restricts them from freely switching jobs, lowers wages, stifles innovation, blocks entrepreneurs from starting new businesses and undermines fair competition." Source: CNN #noncompete #noncompeteclause #noncompeteclausese #FTC

The noose continues to tighten on the use of non-compete and non-solicit covenants in US employment agreements. Although we are still waiting to see if the proposed US Federal Trade Commission's nationwide ban on non-competes will come into effect, laws continue to be enacted at the state level further restricting the ability of employers to rely on post-employment restraints. The State of Washington is the most recent example, with a new law that further narrows what is permissible for employees working in that state. This is a good reminder for UK and EU businesses that are expanding to the US of the importance of addressing state-specific requirements in their hiring practices and employment agreements. The team at Wilson Sonsini Goodrich & Rosati provides more detail on Washington's new law: https://lnkd.in/eszDsmNb

Attention Employers: The game is changing! The United States Federal Trade Commission (FTC) just dropped a bombshell that could affect every business across the nation. In a groundbreaking move, the FTC has approved its final rule banning most non-compete agreements for workers nationwide. 🛑 What does this mean for you? Simply put, it's now considered unfair competition for employers to slap non-compete clauses on their workers. This rule is set to shake up the employment landscape like never before. But don't hit the panic button just yet; let's break it down. 📜 Here's the lowdown: 🚫 No More Non-Competes: Most for-profit employers will be forbidden from locking down workers with non-compete agreements, whether it's in a contract or policy. 🔒 Who's Affected? Pretty much everyone. This rule covers employees, independent contractors, interns, volunteers, and even sole proprietors. If you're providing services to a business, you're in the mix. 💼 Exception Alert: There's a small loophole. Non-compete agreements are still allowed for "senior executives," but with strict conditions. There are also a few other exceptions. 💡 What About Other Agreements? While non-solicitation and non-disclosure agreements aren't banned outright, they'll be closely scrutinized. If they're too restrictive, they could be seen as just another form of non-compete. 🔍 Stay Tuned: The rule's already under fire, with the U.S. Chamber of Commerce challenging its legality. We'll keep you in the loop as this unfolds. 📞 Got Questions? Don't hesitate to reach out to Savine Employment Law, Ltd. We've got your back in navigating these new waters. Don't let uncertainty stall your business—get ahead of the curve today! #FTC #NonCompeteBan #EmploymentLaw #SavineEmploymentLaw

The new FTC rule on non-compete clauses affects non-compete agreements for lower-level workers The rule will become unenforceable six months after the rule's implementation. Existing non-competes for high-earning executives in policy-making positions will remain effective. How do you think this rule will impact your industry? #NonCompeteClauses #FTC #JobMobility https://lnkd.in/gu9kzC2r