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Well, the FTC is one for two. So far. On July 3, 2024, a federal judge in the Northern District of Texas partially blocked the new FTC rule banning non-compete agreements from taking effect. In a 33-page decision, U.S. District Judge Ada Brown, appointed by former President Trump, conducted an exhaustive review of the background and purported powers of the FTC. The Court set forth in some detail the case law regarding the issuance of … [Read more...] about Federal Trade Commission Approves New Non-Compete Clause Rule
Business Law
Federal Trade Commission Approves New Non-Compete Clause Rule
On April 23, 2024, the Federal Trade Commission (FTC) voted 3-2 to approve the Non-Compete Clause Rule in its final form. The rule, first proposed in January 2023, was passed pursuant to President Biden’s 2021 “Executive Order on Promoting Competition in the American Economy,” effectively prohibits the use of almost all non-compete clauses across the country. The rule will supersede any state rules or regulations to the contrary. According to … [Read more...] about Federal Trade Commission Approves New Non-Compete Clause Rule
Understanding New Jersey’s New Flood Disclosure Law: What Real Estate Owners and Landlords Need to Know
Recently, New Jersey enacted a new law aimed at enhancing transparency and awareness regarding flood risks for both commercial and residential properties. The New Jersey Flood Risk Notification Law became effective on March 20, 2024. It requires property owners and landlords to disclose information related to flood hazards to potential buyers or renters before completing a real estate transaction. The complete text of the new law can be read … [Read more...] about Understanding New Jersey’s New Flood Disclosure Law: What Real Estate Owners and Landlords Need to Know
FTC Proposal to Ban Non-Compete Agreements Nation-Wide
In a seismic move, the Federal Trade Commission (FTC) sent shockwaves through the business community with its January 2023 announcement of a proposed rule that, if adopted, would dramatically reshape the landscape of non-compete agreements nationwide. The FTC proposal to ban non-compete agreements nationwide marks a significant departure from the current realm of restrictive covenants in most states, including New Jersey. According to the U.S. … [Read more...] about FTC Proposal to Ban Non-Compete Agreements Nation-Wide
SPG Successfully Recovers Six (6)-Figure Payment in Additional Loss of Business Income Insurance for New Jersey Automobile Dealership
Kieran M. Dowling, of Schiller, Pittenger & Galvin, P.C. and the Auto Dealership Law Team successfully represented a Union County Automobile Dealership to recover unpaid loss of business income insurance under its policy. The dealership’s parts and services department had suffered a devastating fire, and the dealership filed an insurance claim to recoup the lost business income during the rebuild. The dealership’s insurance company, … [Read more...] about SPG Successfully Recovers Six (6)-Figure Payment in Additional Loss of Business Income Insurance for New Jersey Automobile Dealership
New Jersey Commercial Property Insurance and Appraisal Clauses: What You Need to Know
An important aspect of commercial property insurance that is often overlooked is the appraisal clause. Although it may seem complicated, business owners who have filed property damage or loss of business income claim with their insurance carriers need to understand New Jersey commercial property insurance and appraisal clauses. Appraisal Clause Explained New Jersey commercial property insurance policies can have an "appraisal" clause to … [Read more...] about New Jersey Commercial Property Insurance and Appraisal Clauses: What You Need to Know