Please join us for a one-hour CLE webinar on Thursday, August 16, 2018, at 1:00 p.m. Eastern / 12:00 p.m. Central / 10:00 a.m. Pacific.
On August 10, Governor Charlie Baker signed a Non-Compete Reform Bill into law. Although the bill largely codifies existing common law, there are some significant changes that companies with employees is Massachusetts should be aware of. Among other things, non-competes may not be enforced against certain types of employees; continued employment will no longer be sufficient consideration for existing employees; any employees subject to non-compete restrictions must be provided with “garden leave” (i.e., 50% of their base pay) during the restricted period, or “other mutually agreed upon consideration” (which is not defined); there are new notification requirements, and agreements with Massachusetts employees purportedly may not apply the laws of other states or mandate venue for lawsuits outside of Massachusetts.
As part of the same overarching economic development bill, Massachusetts has also now joined 48 other states in adopting the Uniform Trade Secrets Act, which will also changes existing law (although without creating nearly as much confusion and uncertainty as the non-compete law).
Understanding the impact of these changes, and what to expect, will help your company safeguard its most valuable assets and maintain its advantage over competitors. Please join Seyfarth Shaw’s Boston team for an informative webinar on what to expect when this law goes into effect on October 1, 2018.