Nationwide Ban on Non-Competes?
The Federal Trade Commission recently announced that non-compete agreements are being banned nationwide. They hope that doing away with all non-competes will "promote competition, protect worker rights, increase innovation, and foster new business formation."
The facts:
The new non-compete rule is not a "law" - not yet anyway. It is scheduled to become enforceable in September 2024. That's still months away. In the meantime, lawsuits are being filed to stop the rule from ever becoming law. In all likelihood, the FTC's action will be shut down and dismantled long before September rolls around.
What's Next:
Don't panic. Don't start revising your non-compete agreements. Just sit tight and see what the courts do with this new "rule" in the next few months. For now, nothing has changed. Non-competes are still allowed today, and are just as enforceable today as they were yesterday.