Online Class: Wednesday, March 8 | 1:30 - 2:30 PM ET
Listen or watch a five-minute preview of this online class ACEC's VP of Tax & Workforce Policy, Katharine Mottley, discussed the proposed FTC rule and what it means for the engineering industry.
The Federal Trade Commission has issued a proposed rule that will ban most noncompete agreements in the future. Employees who own at least 25% of a firm being acquired would be exempt, and virtually all existing non-compete agreements would be rescinded immediately. If the rule goes into effect as proposed, it could significantly impact business decisions related to M&A and firm owners and employees currently working under such agreements. ACEC is offering a special webinar to help you understand what the proposed rule means to your firm and the steps you can take to protect proprietary information.
Noncompete agreements are often included in ownership or shareholder agreements to prevent someone from taking employees, proprietary information, and clients with them if they leave the firm. They are also routinely used in acquisitions of other firms. The FTC argues that such agreements suppress wages and prevent entrepreneurs from starting new businesses. Several states have already banned or restricted the use of non-compete agreements. If the FTC publishes a final rule, it is expected to be swiftly challenged in court.
After attending this session, participants will:
Understand what is in the FTC's proposed rule.
Learn about other restrictive covenants, such as non-solicit and non-disclosure agreements, that the FTC might consider the equivalent of a non-compete.
Understand the rule-making process and why a final rule is vulnerable to legal challenge.
Discuss approaches to protecting proprietary information and clients if the ban on noncompete agreements is enacted and upheld in court.
Presenters: Andrew Kilberg and Jason Schwartz, Gibson Dunn Earn: 1.0 PDH Credit ACEC Member Rate: $179 Non-Member Rate: $279