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Pharmaverse Podcast
The Pharmaverse is a leadership podcast that brings you exclusive insights from the stars of the Pharma universe. Hosted by Michael Pietrack, a top Pharma and Biotech recruiter, whose team partners with the most recognizable Pharma companies in the industry, as well as the hottest of the emerging Biotechs. In each episode, Michael sits down with influential and innovative leaders in the Pharmaceutical and related industries. Listeners will hear from stars from all sectors of the Pharmaverse and will gain valuable insights to help lead their team or structure their careers. Whether you're a current leader, an aspiring leader, or a leadership enthusiast, the Pharmaverse Podcast has something for you. Tune in and subscribe!
Pharmaverse Podcast
Special Edition Episode: Howard Matalon does a deep dive on Non-Competes!
In this special edition of the Pharmaverse podcast, host Michael Pietrack sits back down with Howard Matalon, an employment attorney and executive coach, about the recent FTC rule that may change the landscape of non-competes. Tune in to hear a deep dive on non-competes! The FTC rule, which goes into effect on September 4, 2024, declares non-competes to be an illegal restraint of trade. However, the rule has faced legal challenges and its fate is uncertain. Matalon advises senior executives to be cautious about new non-competes and suggests that existing non-competes may be null and void after the rule goes into effect. He also discusses the importance of defining the scope, duration, and geography of non-competes to ensure their enforceability. Howard's advice, "In the new reality, a non-compete would be really inapplicable for someone who is not considered a senior executive." Tune in to learn more!
Takeaways:
⚖The FTC rule, set to go into effect on September 4, 2024, declares non-competes to be an illegal restraint of trade.
📑The fate of the FTC rule is uncertain, as it is currently facing legal challenges.
👆 Senior executives should be cautious about new non-competes and existing non-competes may be null and void after the rule goes into effect.
🛑Defining the scope, duration, and geography of non-competes is crucial for their enforceability.
Chapters
00:00 Introduction and Background
03:40 Effective Date and Uncertainty
07:03 Impact on Senior Executives
12:09 Potential Supreme Court Ruling
18:05 Ensuring Enforceability of Non-Competes
20:22 Dealing with Broad Non-Competes
23:21 Seeking Legal Advice on Non-Competes
25:06 Conclusion
