Source: AVMA
In April 2024, the Federal Trade Commission (FTC) issued a rule banning most noncompete agreements, which has already faced legal challenges. To assist Veterinary professionals in understanding this new regulation, the AVMA has released a resource titled “What you need to know about the FTC’s banning of noncompete agreements.” This guide offers comprehensive information on noncompete agreements, explaining their typical structures for employees and employers within the Veterinary field and addressing key questions about the FTC rule.
The rule is set to take effect on September 4, 2024, but its implementation is uncertain due to ongoing legal challenges. As a result, existing noncompete agreements remain valid and enforceable until the rule is officially in place. The AVMA resource helps clarify what is included in the FTC ban, the expected timeline for the rule, and steps Veterinary professionals should take in anticipation of the changes.
Read the full story HERE: https://www.avma.org/blog/noncompete-agreements-what-does-new-ftc-rule-mean