EI President, Jonathan Walker, testified at an arbitration proceeding concerning the enforceability of a non-compete provision against three California investment bankers. Non-competes are generally unenforceable in California, but an exception exists when the non-compete is part of the sale of a business and is necessary to protect the value of the business sold from unfair competition. Dr. Walker’s testimony concerned the competitiveness of the investment banking industry and the impact of the investment bankers’ competition on the value of the firm sold.
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