FTC Issues Final Rule Banning Majority of Non-Competes Across the US.

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On April 23, 2024 the Federal Trade Commission issued its long awaited final rule that purports to ban the majority of non-competes across the United States. The rule is likely to be published in the next week or so, and will take effect 120 days after being published, so likely late summer 2024. While it is already being subjected to legal challenge, employers still need to educate themselves on what the law does and prepare themselves in the event the legal challenges fail as the rule would do away with a business practice that has been in use for over a century and would represent a sea-change in terms of employee mobility and bargaining power.

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