On April 23, 2024, the Federal Trade Commission announced a rule that most non-competition agreements will no longer be enforceable. A few exceptions will remain, which may apply to certain senior executives and to the sale of a business. Otherwise, employees and independent contractors will be free to change employment.
Unless a court rules to stop it, this ban will become effective in approximately four months (or around August 2024). Until then, both employers and employees should stay tuned for any updates.
Key components of the rule (if it takes effect):
If you are an employer wondering how this rule change may affect your business and what you can do to prepare for it, reach out for a consultation today at https://woodlamping.com/contact-us/.
