Certainly the devil is in the details, but they are common in the sale of dental practices. Could you imagine buying a practice only to have the previous owner opening a new practice close by. I'm sure other industries are impacted. FTC Announces Rule Banning Noncompetes
Interesting that the MD's who are employed by hospitals have said that those clauses have felt like they were chained to their current hospital. Stu was never a hospital employee but I bet he knows a lot of guys who are. I will be curious to hear his take.
They are very common in many business combinations/mergers and acquisitions as well. I have heard that existing agreements for "senior" positions will be grandfathered and all others null and void. Good luck with enforcing that one. Most pundits I've listened to today don't expect any rule to be effective for some time. Let the lawsuits begin....the track record of the FTC Chair Lina Khan appears to suggest that she gets paid based upon the number of enforcement actions she undertakes, with a bias toward Marxist dogma, imho
Gotta ask around. On a golf trip w my buddies in Orlando right now. I can’t play due to my neuropathy but having a blast.