Noncompete Ban: What Every Estate Planner Must Know About the FTCs New Rule and Its Impact on Estate and Succession Planning

The Federal Trade Commission (FTC) has issued a new Rule prohibiting noncompete agreements. While this has been the subject of considerable discussion among employment and corporate attorneys, similar attention has yet to be given to this development among estate planners. The rule has a far-reaching impact on estate planning. The ramifications of how small, closely held, and family businesses that have used noncompete provisions, non-solicitation, and nondisclosure agreements will now address protecting themselves and retaining key employees and contracts must change. The valuation of companies may be significantly affected. For some family and closely held businesses, the impact of succession planning could be dramatic. The family business may no longer be able to rely on restrictive provisions to retain key employees necessary to the business’s future success and succession to younger family members. This webinar will discuss the new Rule, its impact on estate and succession planning, what businesses might still be able to do, and more. It will review the new notice requirements and other provisions of the FTC rule.

Speakers: Martin Shenkman, Esq., Jonathan G. Blattmachr, Esq., and David Ritter, Esq.

Sponsors: Peak Trust Company and Interactive Legal (ILS)

*This may constitute attorney advertising.

* No CPE, CLE, etc., is offered, but a certificate of attendance will be provided.