Navigating the New Era of Noncompete Agreements: A Mandate for Transparency
by Michelle Bomberger | May 23, 2024Navigating the new era of noncompete agreements is crucial for businesses, as regulatory demands for transparency are rapidly increasing. States like California, Washington, and Oregon have significantly restricted noncompetes, and the FTC has approved a nationwide ban, pending legal challenges. Multi-state employers must understand the complex interplay of federal and state laws to remain compliant. With noncompetes becoming less viable, alternative strategies such as non-disclosure agreements, confidentiality provisions, and robust trade secret management are essential to protect business interests. Employers must proactively adapt to these changes to ensure compliance and safeguard their competitive edge.
