July 13, 2021
Last week President Biden signed an executive order regarding non-compete agreements. In it he asks the FTC to limit or even ban these agreements, which restrict where many employees can work after leaving a company.
Many experts believe that it is unlikely that the FTC will issue an outright ban, but it remains a possibility. While there are arguments on both sides as to whether these agreements should be allowed, the fact remains that we, as business owners, need to watch to see how the FTC responds to this and the resultant effects on us.
Another provision of the Executive Order asks for the elimination of some occupational licensing requirements. This could affect such industries as construction and cosmetology. It is unclear at this point how broad this could be, or even if it is likely to happen.
If you want to remain ahead of the game, you might want to take a look at what you have in place to protect your confidential information and trade secrets and make sure that these provisions are enforceable. I am happy to take a look at any of this for you and help you shape policies that work for your business.
I will also keep an eye on this as it develops, and I will update you as soon as anything new is released. If you want to know as soon as I do, be sure that you like my Facebook page or follow me on Instagram.
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