The Federal Trade Commission Proposes Ban on Non-Compete Agreements
February 13, 2023,
The Chamber wants to make you aware of some proposed changes in federal regulations concerning non-compete agreements that might negatively impact your business. The Federal Trade Commission has proposed a rule to ban non-compete agreements for all employees and independent contractors, except in cases between a buyer and seller of a business.
A non-compete agreement is an important tool to protect a business when an employee leaves the employment of a business so that the business’ confidential information and goodwill are not taken outside of the business. In addition, a non-compete is put in place to ensure that a former employee will not interfere with existing client or customer relationships.
This is a rather complex legal issue but it will impact small and large businesses. To better understand the ramifications of the proposed rule by the FTC, the Chamber put together a panel of the top employment lawyers in the area to provide a quick overview of this issue. The panel was moderated by the Steven Brown, an attorney at McAllister, DeTar, Showalter & Walker, and he also serves as the Chair of the Chamber’s Board of Directors.
Check out this short video that will give you a better understanding of this issue and how it may impact your business. If you have any questions, please contact any member of the panel at the contact info below.