The FTC’s new rule banning noncompete agreements affects nearly every business and could cause a legal quagmire. Legal Insights expert Trent Cotney of Adams and Reese is here to help explain how this impacts your business and what protections you still have as an employer.
On April 23, the Federal Trade Commission voted 3-2 to issue a new rule prohibiting the use of non-compete agreements for most U.S. workers. It is estimated that approximately 30 million workers are currently bound by such agreements, which prevent them from changing employers in their industry.