United States - Contract of Employment - Federal District Court To Rule On Plaintiffs' Motion For Stay Of FTC Non-Compete Ban And Preliminary Injunction Most Likely By July 3rd mondaq.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondaq.com Daily Mail and Mail on Sunday newspapers.
On April 23, 2024, the FTC issued a final rule banning employers from enforcing non-competes. Legal challenges including from Ryan, a global tax firm soon followed.
The economic impacts will not be huge, but they will slow innovation in the economy as businesses seek alternative ways to protect their trade secrets.
Bill No. S3100A represents a substantial shift from New York’s current non-compete law. The bill is set to become effective 30 days after its signature by Governor Hochul, employers should immediately evaluate their current agreements in preparation for this ban.
The lawsuit, filed on May 19, 2023, in King County Superior Court, alleged the company violated the law by requiring employees to sign agreements that prohibited them from taking a second job or working for a competitor after leaving the company.