Today, April 23, 2024, the Federal Trade Commission (“FTC”) will meet to consider issuing a Final Rule affecting non-compete agreements. Although the FTC has not yet released the Final Rule under consideration to the public, based on the Fact Sheet – FTC Proposes Rule to Ban Non-Compete Clauses, Which Hurt Workers and Harm Competition, it appears that the Final Rule will both: (i) prohibit most employers from entering into non-compete agreements with both their employees and independent contractors and (ii) rescind any such existing non-compete agreements between employers and their employees and independent contractors. An update will be issued once the Final Rule is released to the public.
