For recent or ongoing transactions - any noncompete language updates?
November 12, 2023
by a searcher from University of California, Berkeley in Seattle Metropolitan Area, WA, USA
What are people doing in anticipation of the NY State (passed both houses, no governor sign yet) and FTC proposed ban on noncompetes, save for possible business sales above x%?
Seems that this become even more of a heavily contended term in agreements with reserved proceeds potentially toward bonus/retention offers and terms?
I'm curious what has been market recently or if it's not yet a concern.
article from ACG and FTC terms here: https://www.ftc.gov/news-events/news/press-releases/2023/09/ftc-department-labor-partner-protect-workers-anticompetitive-unfair-deceptive-practices