News & Analysis as of

Delaware Non-Compete Agreements Partnership Agreements

Skadden, Arps, Slate, Meagher & Flom LLP

Employment Flash - March 2024

In this issue of Employment Flash: the new DOL rule on independent contractors, SCOTUS’s unanimous Sarbanes-Oxley whistleblower ruling, plus labor law developments in California, Delaware, D.C., New York, the EU, Germany and...more

Sheppard Mullin Richter & Hampton LLP

Delaware Supreme Court Enforces Forfeiture for Competition Provision in Partnership Agreement

In Cantor Fitzgerald, L.P. v. Ainslie, No. 162, 2023, 2024 WL 315193 (Del. Jan. 29, 2024), the Delaware Supreme Court held enforceable a “forfeiture for competition” provision in a limited partnership agreement, upholding...more

Skadden, Arps, Slate, Meagher & Flom LLP

Ruling: Forfeiture-for-Competition Provisions in Delaware Partnership Agreements Are Not Subject to a Reasonableness Review

On January 29, 2024, in Cantor Fitzgerald, L.P. v. Ainslie, the Delaware Supreme Court reversed a decision of the Delaware Court of Chancery holding that a forfeiture-for-competition provision in a partnership agreement was a...more

Morrison & Foerster LLP

Trio of Delaware Cases Signal Stricter Review of Sale-of-Business Non-Competes

On March 16, 2023, the Delaware Chancery Court in Intertek Testing Services NA, Inc. v. Eastman found a sale-of-business non-compete was overbroad, given its worldwide geographic scope, and refused to modify it to make it...more

Proskauer - Law and the Workplace

Delaware Chancery Court Invalidates Forfeiture-for-Competition Provision in Partnership Agreement

On January 4, 2023, in Ainslie, et al. v. Cantor Fitzgerald, L.P., the Delaware Court of Chancery invalidated the forfeiture-for-competition provision in the financial services company’s limited partnership agreement, based...more

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