GT's Michael D. Karpeles (CHI) and Laura Luisi (CHI) will present the webinar, "A New Frontier for Noncompetes: Illinois Law Changes and Biden’s Federal Executive Order," to the North Shore Labor Counsel on Thursday, September 3oth from 8:30 - 10:00 a.m. CT. This webinar will address the new significant changes to noncompete law in the Illinois Freedom to Work Act (IFWA), which go into effect on January 1, 2022. The presentation will include an overview of the IFWA’s different compensation floors for covenants not to compete and not to solicit, how other related covenants are treated in light of the new law, new procedural requirements to assure the validity of restrictive covenants, the impact on sale of business or equity transactions, new private and government remedies for violations, and actions employers can take prior to IFWA’s effective date to minimize some of the law’s risks and detrimental impact on employers.
The program will also discuss President Biden’s recent Executive Order regarding non-competes, and its implications for restrictive covenants nationally. This webinar will convey important information relevant to the daily work of in – house labor and employment attorneys, and general counsel. Restrictive covenants of one sort or another are a staple of most companies’ management of executives and many other employees, and are a vital tool in protecting company confidential information and business relationships.