Physicians Practice April 26, 2024
Most Healthcare entities nationwide will soon be deprived of one of the most essential protections for their business, the non-competition provision.
The Federal Trade Commission (the “FTC”) has banned existing and future non-competition provisions (as distinguished from non-solicitation provisions) for all workers, except that pre-Effective Date (defined below) non-competes for workers who are “Senior Executives” are exempt (the “Ban”). Aside from earning at least $151,164 per annum, a worker must be in a “policy making position” to constitute a Senior Executive. The ban will, absent a judicially imposed stay, become effective within 120 days from 4/23/24 (the “Effective Date”).
The Ban will not apply to non-competes that: arise from a business sale (including partner buyouts and mergers and acquisitions), under...
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