Non-compete Contracts May Disappear Soon

One of the biggest issues affecting employers, contractors and employees in 2024 may be the elimination of non-compete contracts depending on the actions of the Federal Trade Commission in April.

Throughout 2023, the government agency has been looking at eliminating the use of non-compete contracts by all businesses when it comes to workers and contractors. Nearly 30,000 people have weighed in on the proposed action.

If passed, companies will need to ensure they have worked with employees and contractors on strict non-disclosure agreements to protect its company secrets.

But in the fall, a business’ best employee may be able to go work for a competitor a day after leaving and there will be no recourse for the company.

The attorneys at The Orlando Law Group can help ensure your non-disclosure agreements are comprehensive and enforceable to protect your business and can work through any issues this new rule may cause.

What is a non-compete contract?

Nearly every executive or contractor has signed a non-compete contract in the past. In most cases, the non-compete contract is presented as part of the employment package at the time of the person being hired.

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