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NEW YORK’S NON-COMPETE AGREEMENT BANK IS (ALMOST) HERE
New York is close to implementing a ban on non-compete agreements, preventing employers from limiting an individual's employment opportunities post their original job. However, certain exceptions apply, such as contracts with a fixed term of service, prohibitions on revealing trade secrets, or poaching of clients. The law won't impact agreements already in place and applies to independent contractors. Legal repercussions await employers breaking the law, including private lawsuits and potential fines. Contracts with unenforceable non-compete clauses won't be entirely void. Employers are advised to adjust their agreements accordingly before the law comes into effect.