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Lawrence Lambert Breaks Down the New FTC Non-Compete Regulations

Cut To The Chase: Podcast Hosted by Gregg Goldfarb

Release Date: 07/17/2024

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Wondering how the FTC’s new regulations on non-compete agreements could reshape employment law?     

In the ever-evolving legal world, the Federal Trade Commission's proposed rule to ban non-compete agreements could have far-reaching implications for businesses across various sectors, including law firms.    Legal challenges have already been filed and as of the publication of this podcast, one Court has already ruled that the regulations are invalid.

Did you know? Non-compete agreements have been a staple in business protection for hundreds of years, yet states like California have restricted them for nearly a century!

In part 2 with Miami business law expert, Lawrence Lambert, you’ll hear his insightful perspectives on the upcoming “Non-Compete Clause Rule”.

Tune in to discover the historical context of non-compete agreements, the nuances of the new FTC rule, and how these changes could impact employers and employees alike.

  

In this episode of the Cut to the Chase: Podcast, Gregg and Lawrence discuss:

- The purpose of non-compete agreements and their historical use

- The robust protection of non-competes in Florida

- Implications of the FTC's new “Non-Compete Clause Rule” and its projected effective date

- Potential legal challenges involving non-competes and what they mean for the rule's enforcement

- Balancing employees' rights and employers' protections

- Specific criteria of the Non-Compete Clause Rule, including exemptions and senior executive definitions

- Employer responsibilities under the Non-Compete Clause Rule and potential penalties

- Advice for employees and employers navigating this legal shift

 

Key Actionable Takeaways for Law Firms:

  1. Stay Informed: Keep up-to-date with the latest FTC developments and potential legal challenges.

  2. Review Current Agreements: Scrutinize existing non-compete agreements for compliance and necessary amendments.

  3. Employer Notifications: Prepare to notify current and former employees about the unenforceability of non-compete clauses post-rule enactment.

  4. Understand Exemptions: Familiarize yourself with the definitions and exemptions, especially concerning senior executives.

  5. Legal Counsel: Provide guidance to clients on navigating non-compete clauses and consider negotiation strategies if compliance becomes an issue.

This episode is a must-listen for anyone interested in the intersection of employment law and business operations. As the Non-Compete Clause Rule looms, understanding its impact will be crucial for both employers and employees in all sectors!

Learn more about the Non-Compete Clause Rule: https://www.ftc.gov/legal-library/browse/rules/noncompete-rule

Listen to Part 1 on the Corporate Transparency Act: https://apple.co/463ahlJ

Subscribe, rate, review, and share this episode of the Cut to the Chase: Podcast to stay ahead in your legal practice!

 

Connect with Lawrence Lambert on LinkedIn: https://www.linkedin.com/in/lbllawpa

Law Office of Lawrence B. Lambert: https://llambertlaw.com