THE NON-COMPETE LANDSCAPES IN 2023 – WHAT EMPLOYERS SHOULD KNOW

  1. The FTC has not yet issued its final non-compete bank and that rule will face strong legal challenges.

  2. Antitrust Law creates new pitfalls and challenges.

  3. The NLRB is targeting non-competes and may deem them to violate the NLRA.

  4. New State Laws impose additional limits.

  5. Key takeaways for employers – here are the key takeaways and options for navigating this new arena…

    • If you use non-competes, reevaluate your current approach and prepare a backup plan for a scenario where non-competes become unlawful.

    • Consider these other options for protecting your interests.

    • Improving your electronic systems to better protect proprietary information.

    • Consider strong confidentiality agreements, where lawful, to fill any gaps created by non-compete bans.

    • Leverage the protection available under trade secret protection laws.

    • Consider alternative compensation structures that can deter unfair competition.

    • Improve training in key areas.

    • Err away from no-poach agreements with other organizations.

    • Avoid non-competes with low wage workers except in extraordinary circumstances.

    • Consider this new landscape when pursuing mergers, acquisitions, and other deals.

    • If you use non-competes, focus on where you really need them.

    This document is designed for general information only. The information presented in this document should not be construed to be formal legal or tax advice nor the formation of a lawyer/client relationship. 

    For more information on this and other topics, please contact Kevin via any of the channels listed below:

    📧 kevin@kmckernan.com  | 📞 718-317-5007

Previous
Previous

WHAT YOU NEED TO KNOW ABOUT COMBINING A 1031 EXCHANGE AND A SECTION 121 EXCLUSION

Next
Next

SOME STEPS TO STARTING A NEW BUSINESS