Noncompete reform efforts in Massachusetts began nearly a decade ago. Trade secret reform efforts began two decades before that. Both have finally produced results—two brand new statutes signed into law on August 10th that fundamentally change the law in ways that affect virtually every Massachusetts company and many employees in the state.
The laws change who can be bound by a noncompete and who cannot. They impose procedural and substance fairness requirements on the use of noncompetes. And, they establish broad requirements for a noncompete to be valid and enforceable, and provide presumptions of reasonableness for noncompetes that adhere to the statutory requisites. They also change what information can be protected as a trade secret, and how it can be protected.
Every company has information it wishes to protect. And nearly 40 percent of employees are or have been bound by a noncompete. As a consequence, no Massachusetts company or company employing people in Massachusetts can ignore these changes. Nor can their lawyers.
Learn what each statute does and does not do, how they relate to each other, and how they change the playing field.
Join us for a discussion with trade secret and noncompete practitioners and the lead advisors and drafters of the bills.