FTC Update With Simon Willman, JD and Wh...

Episode Summary: In this episode, Joe Rodriguez welcomes back Simon Willman, Esq., former in-house counsel for one of the largest orthopedic groups in the country. They discuss the Federal Trade Commission's recent vote to ban non-compete agreements and its implications for healthcare professionals and practice owners.

Key Topics Covered:

Pre-Session: State-Level Updates from Louisiana, Maryland, and Pennsylvania 

1. Introduction:
   • Welcome and introduction of Simon Willman, Esq.
   • Background on Simon's experience with Health Outcomes Performance Company and Core Orthopedics.
2. FTC's Vote to Ban Non-Competes:
   • Overview of the FTC's recent vote to ban non-compete agreements.
   • The timeline for the ban going into effect (120 days post-publication).
   • Legal challenges from the U.S. Chamber of Commerce, the Business Roundtable, the Texas Association of Business, and the Longview Chamber of Commerce.
3. Implications for Healthcare Professionals:
   • Simon's insights on how the ban might affect providers and practice owners.
   • Potential benefits for healthcare providers who can move freely between employers.
   • Concerns for business owners regarding the impact on enterprise value and capital investments.
4. Details of the FTC's Final Rule:
   • Summary of the key points of the final rule.
   • Explanation of the difference between non-compete and non-solicitation agreements.
   • Potential legal interpretations and challenges ahead.
5. Non-Competes vs. Non-Solicitation:
   • Breakdown of how non-solicitation agreements differ from non-competes.
   • Discussion on whether non-solicitation agreements might serve as a backdoor to enforce non-competes.
6. Legal Considerations and Advice:
   • Practical advice for healthcare providers dealing with non-competes.
   • The importance of understanding the legal landscape and potential court interpretations.
   • The potential costs and implications of legal challenges.
7. Federal vs. State Jurisdiction:
   • Explanation of how the jurisdiction might shift from state to federal courts.
   • The impact of this shift on enforcement and legal proceedings.
8. Sale of Business Exception:
   • Discussion on the exception for bona fide sales of businesses.
   • How this exception might apply to equity owners and business transactions.
9. Final Thoughts and Advice:
   • Simon's final comments on the significance of the FTC's rule.
   • Advice for healthcare providers and practice owners navigating this evolving legal environment.
10. Outro:
    • Joe and Simon wrap up the discussion.
    • Teaser for the next episode.

Key Quotes:

• "If I'm in your audience's shoes as providers and as practice owners, I think this is significant and I don't think this is just pure speculation." - Simon Willman
• "Everyone should have a right to earn a living, I think." - Joe Rodriguez

Resources Mentioned:

• Becker's Healthcare article on the FTC vote.
• The FTC's final rule on non-competes.

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Disclaimer: The content of this podcast is for informational purposes only and does not constitute legal advice. Listeners should consult their own legal advisors for specific guidance related to their circumstances.

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