MAY NEWSLETTER

BREAKING NEWS: FTC Bans Non-Compete Clauses

Kyle McCutcheon, Esq.

In a move poised to significantly impact American businesses, the Federal Trade Commission published a final rule that prohibits employers from entering into or attempting to enforce non-compete clauses with their workers. The move not only bans non-compete agreements with few exceptions, but also requires employers to provide written notice to workers who are parties to prohibited non-compete agreements.

With non-compete clauses no longer an option, employers may need to explore alternative strategies to protect intellectual property, proprietary information, and business relationships. Looking to learn more? Kyle McCutcheon's provides an in-depth overview on the ruling in his newest article, "FTC Bans Non-Compete Clauses" linked below.

Corporate Transparency Act: What You Need to Know

The Corporate Transparency Act was enacted as part of the National Defense Authorization Act of 2021 to prevent and combat money laundering, terrorist financing, fraud, corruption, and other illegal acidity using the country's financial system.

The final rule recently issued contains new reporting requirements for all companies to aid law enforcement authorities to identify and investigate companies being used for illegal activities. Failure to comply could subject you to stiff penalties including civil fines up to $500/day not to exceed $10,000 or up to two years imprisonment, or both.

In May's Newsletter, Kyle McCutcheon is breaking down everything you need to know about the CTA, its requirements, and why it is important in his article, "Corporate Transparency Act: What You Need to Know" linked here!

7 Steps to Take to Form a Nonprofit Corporation in Arizona

In today's society, charitable and nonprofit organizations play an important role. While many of these organizations enjoy tax-exempt status as nonprofit corporations, it can be a complex and challenging process to achieve this status.

The article, "7 Steps to Take to Form a Nonprofit Corporation in Arizona" provides insight on the benefits of hiring an Arizona nonprofit lawyer to guide you through the process of successfully creating and maintaining your nonprofit corporation.

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