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New Opinion Set to Impact Texas Employers

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New Opinion Set to Impact Texas Employers

Earlier this summer a Texas federal court blocked a new Federal Trade Commission (FTC) ban that affected employers who utilize non-compete agreements. While the court blocked the FTC’s new rule banning noncompete agreements, as of July 3, 2024, it only applied to the plaintiffs in that particular lawsuit. See Ryan, LLC v. Federal Trade Commission, 3:2024-CV-00986 (N.D. Tex. 2024).

This led to the FTC’s plans to continue enforcing the new rule that was set to go into effect on September 4, 2024. However, just in the nick of time, on August 20, 2024, the Northern District of Texas issued a Memorandum Opinion and Order, which appears to set aside the FTC’s ban on non-competition agreements. It states that the FTC’s new rule “shall not be enforced or otherwise take effect on September 4, 2024, or thereafter.” This suggests that the FTC’s new rule will no longer just apply to the plaintiffs of the underlying dispute or case in controversy, but to any employer subject to the FTC’s new rule.

While the true effects of the Memorandum Opinion and Order (August 20, 2024) are yet to be seen, it is worth noting that, generally, an order and memorandum opinion from a district court is only binding for the case within that court. However, the court ordered that the FTC rule be set aside, which may mean the FTC cannot enforce the rule against any other employers. Depending on what impact this Memorandum Opinion and Order (August 20, 2024) produces, it could be the difference between a valid and an invalid contract for an estimated 30 million contracts.

5 Reasons Your LLC Needs an Operating Agreement

5 Reasons Your LLC Needs an Operating Agreement

5 Reasons Your LLC Needs an Operating Agreement

An operating agreement is a private contract that controls your LLC’s operations, along with interactionsbetween the owners and the company. You may think that an operating agreement is not necessary for yourLLC, especially if it’s a single-member LLC. After all, why should you make an agreement with yourself?

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It's Time to Audit Your Insurance Policies

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It's Time to Audit Your Insurance Policies

IT'S TIME TO AUDIT YOUR INSURANCE POLICIES

After unexpected disasters like Harvey occur, it's smart to take a step back and make sure you have the right kind of insurance and the right amount of insurance. And as your family size grows, there is lots to prepare for and consider. Welcoming a new family member can be a joyous occasion, and requires some planning.

Adding a new family member can affect your finances and create a need for more protections. Reassessing your insurance coverage might not be at the top of your list, but policies should always be audited when changes in your family life occur to ensure your coverage will adequately protect your growing family.

Remember this: insurance says I love you to the people you love.

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Avoid Business Litigation With These 6 Steps

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Avoid Business Litigation With These 6 Steps

Avoid Business Litigation With These 6 Steps

Business litigation is an expensive use of both time and money and should be avoided whenever possible. Even the most favorable of settlements can cost a business months—if not years—of productivity and focus.

To avoid the high costs of litigation, follow these six preventive steps:

Is Your Work Life Balanced?

Is Your Work Life Balanced?

What to do When Your Business is Out of Bounds and Work Starts to Take Over Your Personal Life

In the digital era when you can be reached 24/7 through smartphones and social media, it can be more difficult to set firm boundaries that support your wellbeing and the productivity of your business. When you find yourself frustrated, resentful, or feeling obligated to respond to tweets, FB messages and emails at all hours of the day and night because you “have to”, it’s time to reassess and redefine your business boundaries.

The first step is to get clear about the difference between

Ten Common Money Pits Even Brilliant Entrepreneurs Fall Into

Ten Common Money Pits Even Brilliant Entrepreneurs Fall Into

Ten Common Money Pits Even Brilliant Entrepreneurs Fall Into  

If you’re relying on your top line to grow your wealth, you could be missing out on easy opportunities to save money and improve profits, independent of your revenue.

Many entrepreneurs waste precious time and money by falling prey to these common mistakes. However, there is no need to sacrifice, work harder, or take on new financial risks when they can be easily avoided.