Trade Secret Protection & Restrictive Covenants
Related Insights
04.23.2024
Client Advisories
Federal Trade Commission Makes Good on Promise to Ban Non-Competes
04.17.2024
Client Advisories
Ban on the Run: Federal Trade Commission’s Proposed Non-Compete Ban Headed to Vote
07.10.2023
Client Advisories
New York Aims to Become the Fifth State to Join the Non-Compete "Ban" Wagon
The New York State Assembly reconvened last month and passed a bill (A01278B) banning all non-compete agreements which, if enacted, would prohibit almost all new employee non-compete agreements, regardless of salary level or job function. Strikingly, the proposed legislation does not contain an exception for situations involving the sale of a business. The law will be applicable to contracts entered into or modified on or after the law’s effective date and does not void existing non-compete agreements. The bill and its Senate counterpart (S3100A) are currently in limbo, awaiting further action from New York Governor Kathy Hochul, who may request the bills be sent to her for execution, or instead request further amendments. If signed, the law would take effect 30 days thereafter.