Noncompete Agreements

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Commonly Asked Questions about Noncompete Agreements

What voids a non-compete agreement?

However, certain factors can render a non-compete agreement unenforceable, such as if it is considered unreasonable in time or geographic scope, or if the reason for termination, such as the employer discontinuing a line of business, invalidates the agreement.

Definition What is in a non-compete clause?

ing to the Final Rule, a non-compete clause is any term or condition of employment that prohibits a worker from, penalizes a worker for, or functions to prevent a worker from (i) seeking or accepting work in the United States with a different person where such work would begin after the conclusion of the Understanding the FTCs Non-Compete Clause Rule and Its wilmerhale.com insights client-alerts 2 wilmerhale.com insights client-alerts 2

What is the meaning of non-compete agreement?

A non-compete agreement legally binds a current or former employee from competing with an employer for a specific time after employment ceases. Under such an agreement, the employee must not reveal any trade secrets learned during or after employment.

Are non-competes still enforceable?

On April 23, 2024, the FTC announced its Final Non-Compete Clause Rule (Final Rule), which bans post-employment non-compete clauses between employers and their workers.

Are all non-competes banned now?

The Final Rule bans almost all non-competes between employers and workers, but does not explicitly ban non-disclosure agreements, customer non-solicitation agreements, or employee non-solicit agreements.

What do noncompete agreements prohibit you from?

ing to the FTC, a non-compete is a term or condition of employment that prevents the worker from, penalizes a worker for, or functions to prevent a worker from seeking or accepting work in the United States, or operating a business in the United States.

What states do not honor non-competes?

State laws in North Dakota and Oklahoma prohibit the enforcement of the contractsand California doesnt recognize them at all.

Is the US banning non-compete agreements?

The Democratic-controlled FTC approved the ban on noncompete agreements in a 3-2 vote in May. The commission and supporters of the rule say the agreements are an unfair restraint on competition that violate US antitrust law and suppress workers wages and mobility.

How to write How to write a non-compete clause?

The Employee specifically agrees that for a period of [months/years] after the Employee is no longer employed by the Company, the Employee will not engage, directly or indirectly, either as proprietor, stockholder, partner, officer, employee or otherwise, in the same or similar activities as were performed for Noncompete and Nonsoliciation Provisions - SHRM shrm.org topics-tools tools forms no shrm.org topics-tools tools forms no

Do employers really enforce non-competes?

On May 7, 2024, the Federal Trade Commission (FTC) published a final rule that effectively bans all non-compete agreements between employers and workers as unfair method[s] of competition and requires employers to refrain from enforcing most existing non-compete agreements.