Keep it Legal Blog

Businesses based in California have been barred, in most cases, from enforcing noncompete clauses against former employees for over 150 years. But most other states still allow employee noncompete clauses. Last week, however, the Federal Trade Commission (FTC) announced a new rule that would ban most noncompete clauses nationwide. The rule is not in effect as of the date of this post. It would go into effect 120 days after the rule is published in the Federal Register. However, the rule has already been subject to legal challenges, so it’s possible courts may delay the rule’s implementation and either strike…

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Whether you’re looking to sell your business or acquire a new one, the letter of intent (LOI) is a critical early step in the transaction process. This non-binding document lays the groundwork for the deal, outlining the key terms and conditions that both parties agree to before proceeding to more intensive due diligence and negotiations. From the purchase price and financing structure to contingencies and exclusivity periods, the LOI serves as a roadmap for the final purchase agreement. It’s an essential tool for ensuring both the buyer and seller are aligned on the essential elements of the deal. Transaction based-legal…

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