Decoding Legal Changes: Unpacking the 2024 Corporate Transparency Act and Proposed Non-Compete Agreement Changes with Yogi Patel (Ep. 145)
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A new year has begun, and with it comes significant legal changes for corporations and small businesses. How should you prepare?
In this episode of the Life Unlimited podcast, host Larry Heller, CFP®, CDFA®, talks to Yogi Patel, managing partner at Outside Legal Counsel, LLP, in a revealing discussion about the details of the Corporate Transparency Act and the potential changes with non-compete agreements in New York State. This discussion is critical for anyone wanting to keep abreast of these legal developments and their potential impacts on business operations.
Larry & Yogi discuss:
- The 2024 Corporate Transparency Act that becomes effective in January and the new requirements and exemptions imposed under this law
- The proposed changes concerning non-competition agreements in New York State Labor Law*
- Strategic Insights for business such as navigating the implications, recommended changes and other crucial aspects like enforcement, exceptions and penalties within these laws
- And much more!
*Update: On December 22, 2023, New York State Governor Kathy Hochul vetoed the bill that would ban all new non-competition agreements for workers in New York. Lawmakers have indicated they expect to submit a revised bill with a salary threshold.
About Yogi Patel:
Yogi Patel, Managing Partner at Outside Legal Counsel LLP, is a versatile legal expert serving a wide array of privately held businesses and professionals. He specializes in commercial transactions, compliance, labor law, and both sides of commercial litigation. Yogi’s expertise extends to advising executives in technology, finance, and medicine on contract, equity, and severance matters, as well as representing parties in restrictive covenant litigations. An Adjunct Professor at CUNY School of Law since 2016, he imparts knowledge in commercial law and mentors law graduates for the New York Bar Exam. Yogi’s background includes roles as in-house counsel in construction and at a boutique law firm, handling diverse legal challenges.