The Federal Trade Commission has finalized a rule banning noncompete agreements, but businesses and managers shouldn’t rush to discard existing employment contracts. Legal challenges are expected to delay the rule’s implementation for 120 days, allowing businesses to assess their policies. Thomas Muccifori, an attorney at Archer & Greiner PC, notes that while this marks a significant legal shift, knee-jerk reactions may be unnecessary. It’s crucial for businesses to evaluate their approach to noncompetes and employment agreements amid a changing landscape.
*Article courtesy of New York Business Journal
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