The Federal Trade Commission (FTC) voted yesterday to issue a final rule that will prevent most employers from enforcing noncompete agreements against workers, with only limited exceptions for existing noncompetes with senior executives and noncompetes made in connection with the bona fide sale of a business. Employers must review existing and prospective employment agreements and revise them to comply with the new rule, which, unless enjoined by a court, will go into effect 120 days after publication in the Federal Register, expected in the coming days. Ballard Spahr’s Labor and Employment and Antitrust and Competition Groups are prepared to answer questions regarding what steps employers should be prepared to take in light of the final rule. Read our full Alert on this update here.
Ballard Spahr is hosting a 30-minute webinar on Thursday, May 2nd, to discuss the FTC ruling, its exceptions and expected challenges, and how your business can protect itself from unfair competition and federal agency enforcement actions. Register here.