FTC Announces New Rule Banning Non-Compete Agreements

April 29, 2024

FTC Announces New Rule Banning Non-Compete Agreements Nationwide

It was a busy week in the employment law world.  on Tuesday, April 23, the U.S. Department of Labor issued a final rule that will expand overtime protections to more than 3 million workers who are currently exempt from overtime (you can read more about that, here.)  Not to be outdone, the Federal Trade Commission (FTC) issued a rule the same day that largely bans non-compete agreements for almost all employees.  The FTC's rule is set to take effect later this year, but will certainly be the subject of multiple legal challenges (at least one lawsuit has already been filed).

Skoler Abbott attorneys are in the process of analyzing the FTC's new rule (all 570 pages) and putting together an overview.  They'll also provide an update and opinion on the expected legal challenges.  Stay tuned for their detailed blogs and client alerts coming your way.  In the meantime, their attorneys are there to answer your questions now.