رونوشت کامل FTC Bans Noncompete Agreements

through? 53 00:03:30,101 --> 00:03:33,221 Wesley Lyon: So, Tyler, I want you to talk about what's going on with the associate. 54 00:03:33,381 --> 00:03:37,621 Wesley Lyon: But before I do that, I want to give everybody, you know, we'll call it, 55 00:03:37,641 --> 00:03:40,741 Wesley Lyon: we're going to pick up the grass and see which way the wind is blowing. 56 00:03:41,461 --> 00:03:44,581 Wesley Lyon: Now, for a lot of you, it might not matter. It's like us playing golf. 57 00:03:44,581 --> 00:03:48,041 Wesley Lyon: We're still going to slice it in the woods, but hey, why not look cool and listen 58 00:03:48,041 --> 00:03:50,801 Wesley Lyon: and pay attention and figure out which way the wind is blowing? 59 00:03:51,501 --> 00:03:55,481 Wesley Lyon: But a lot of states are already going against the grain on non-competes. 60 00:03:55,501 --> 00:03:58,021 Wesley Lyon: They don't like them. They want people to be able to move jobs. 61 00:03:58,301 --> 00:04:02,841 Wesley Lyon: And they gave some absurd examples, of course, because it's the media and politics, 62 00:04:03,041 --> 00:04:06,861 Wesley Lyon: but they were talking about like burger flippers, you know, having non-competes. 63 00:04:06,881 --> 00:04:11,101 Wesley Lyon: I don't know that that's actually true, but there is some truth behind this 64 00:04:11,101 --> 00:04:16,081 Wesley Lyon: for a lot of people have non-compete agreements that really can't do any damage to their companies. 65 00:04:16,341 --> 00:04:20,081 Wesley Lyon: You know, they're at accounting firms, financial firms, things where really 66 00:04:20,081 --> 00:04:23,001 Wesley Lyon: them going to another accounting firm is not going to matter. 67 00:04:23,641 --> 00:04:27,861 Wesley Lyon: But they have these non-competes on them, and it's common in every industry. 68 00:04:27,941 --> 00:04:30,581 Wesley Lyon: We're just accountants, so we talk about accounting. 69 00:04:31,101 --> 00:04:35,841 Wesley Lyon: But it's common in every industry to see some of this for people that really 70 00:04:35,841 --> 00:04:37,821 Wesley Lyon: shouldn't be subject to a non-compete. 71 00:04:37,821 --> 00:04:41,601 Wesley Lyon: They aren't going to do any damage you know that there's just no way that this 72 00:04:41,601 --> 00:04:45,641 Wesley Lyon: is going to have a negative impact other than you lost an employee but the employers 73 00:04:45,641 --> 00:04:50,041 Wesley Lyon: like to put the non-competes on there to scare them and it costs a lot of money 74 00:04:50,041 --> 00:04:52,061 Wesley Lyon: to fight this in court and you know they might, 75 00:04:52,768 --> 00:04:56,748 Wesley Lyon: send one person or fight one person just to scare off all the others. 76 00:04:56,968 --> 00:05:00,648 Wesley Lyon: And that's what they can be after sometimes. And that's what they're after getting 77 00:05:00,648 --> 00:05:03,108 Wesley Lyon: rid of is, hey, we want people to have their free will. 78 00:05:03,328 --> 00:05:07,668 Wesley Lyon: It didn't originally start with necessarily dentists, but here we are, 79 00:05:07,708 --> 00:05:10,808 Wesley Lyon: and it's pretty cut and dry in there that this applies to dentists. 80 00:05:11,028 --> 00:05:14,848 Tyler Ott: Exactly. Exactly. And I think that example applied to one of your buddies you 81 00:05:14,848 --> 00:05:19,488 Tyler Ott: were mentioning that he had a non-compete and he was going to another company. 82 00:05:19,608 --> 00:05:23,608 Tyler Ott: It wasn't an enforceable non-compete, But then, you know, the other company 83 00:05:23,608 --> 00:05:25,328 Tyler Ott: that was hiring him heard wind of it. 84 00:05:25,388 --> 00:05:27,208 Tyler Ott: They said, you know, we're not going to go through with this. 85 00:05:27,328 --> 00:05:29,088 Tyler Ott: And then now he's out of a job. 86 00:05:29,248 --> 00:05:33,528 Wesley Lyon: I forgot about that. He got a, this is a great example. He was leaving and he 87 00:05:33,528 --> 00:05:38,148 Wesley Lyon: was going to a competitor, but he made sure he wasn't going to cover the same territory. 88 00:05:38,368 --> 00:05:43,088 Wesley Lyon: So he was abiding by the non-compete, questionably enforceable non-compete to 89 00:05:43,088 --> 00:05:45,668 Wesley Lyon: begin with, but he was abiding by the non-compete. 90 00:05:46,408 --> 00:05:50,828 Wesley Lyon: And the former company sued him. The new company that said they were going to 91 00:05:50,828 --> 00:05:53,528 Wesley Lyon: have his back did not. They let him go. 92 00:05:53,828 --> 00:05:57,508 Wesley Lyon: So he's sitting in la-la land as a lawsuit is getting placed on him. 93 00:05:57,508 --> 00:06:01,768 Wesley Lyon: And fortunately, his mom helped him fund the lawsuit because he was clearly going to win. 94 00:06:01,848 --> 00:06:04,268 Wesley Lyon: He didn't violate the non-compete. And he won and got a settlement, 95 00:06:04,468 --> 00:06:09,128 Wesley Lyon: but doesn't really cover up the fact that, you know, that's just a great example. 96 00:06:09,128 --> 00:06:11,288 Wesley Lyon: If you don't have the money to fight the lawsuit, you're in trouble. 97 00:06:11,368 --> 00:06:12,428 Wesley Lyon: You ain't going to leave. Yeah. 98 00:06:13,188 --> 00:06:16,368 Wesley Lyon: So, yeah, but that's that's exactly what they're trying to put a ban to, 99 00:06:16,488 --> 00:06:20,588 Wesley Lyon: which, Tower, I think I read it and it sounded like, you know, 100 00:06:20,608 --> 00:06:24,388 Wesley Lyon: there was no highly compensated exception. 101 00:06:24,648 --> 00:06:28,228 Wesley Lyon: So what's going on with the dentists and the associates and the non-competes? 102 00:06:28,228 --> 00:06:32,748 Tyler Ott: Yeah, dentists and associates right now, you know, essentially based on the 103 00:06:32,748 --> 00:06:38,348 Tyler Ott: rule that the FTC, the Federal Trade Commission, put out is that those non-competes 104 00:06:38,348 --> 00:06:39,728 Tyler Ott: are unenforceable right now. 105 00:06:40,548 --> 00:06:44,288

Tyler Ott: But I'm not saying if you're an associate, go tear up your non-compete right 106 00:06:44,288 --> 00:06:48,548 Tyler Ott: now or, you know, freak out if you're an owner about your associates right now. 107 00:06:48,708 --> 00:06:52,288 Tyler Ott: You know, again, as I mentioned, it's kind of have to wait and see. 108 00:06:52,828 --> 00:06:57,048 Tyler Ott: And there are some ways, too, that if you did, you know, want to make sure that 109 00:06:57,048 --> 00:07:00,968 Tyler Ott: your associates are hanging around, there are, you know, compensations and bonus 110 00:07:00,968 --> 00:07:04,548 Tyler Ott: packages and benefits package that you can look into as a way to retain them. 111 00:07:04,708 --> 00:07:08,928 Wesley Lyon: Now, we're going to come back to the legal side of it, whether or not this will stick or not. 112 00:07:09,228 --> 00:07:13,988 Wesley Lyon: Let's just assume this rule stays in place as written. 113 00:07:15,008 --> 00:07:19,328 Wesley Lyon: Somehow, some way, a judge says, hey, stamp of approval, we're good. Right. 114 00:07:20,158 --> 00:07:21,598 Wesley Lyon: Associates are free to leave, right? 115 00:07:21,838 --> 00:07:22,138 Tyler Ott: Yes. 116 00:07:22,398 --> 00:07:28,858 Wesley Lyon: Yeah. So, this could be a big shakeup, but there's certainly ways around it. 117 00:07:28,878 --> 00:07:32,338 Wesley Lyon: So, before we get into the legal, Tyler, what are some ways that, 118 00:07:32,418 --> 00:07:36,678 Wesley Lyon: hey, if I've got a, well, I guess we should start by clarifying. 119 00:07:36,878 --> 00:07:39,738 Wesley Lyon: If your associate's only been there six months, they're going to leave and take 120 00:07:39,738 --> 00:07:40,838 Wesley Lyon: a ton of patients from you. 121 00:07:41,278 --> 00:07:42,098 Tyler Ott: You got a problem. 122 00:07:42,238 --> 00:07:43,818 Wesley Lyon: Maybe we got to look in the mirror. 123 00:07:44,018 --> 00:07:44,658 Tyler Ott: You're probably not at the practice. Yes. 124 00:07:45,238 --> 00:07:49,698 Wesley Lyon: We need to look in the mirror on that one. But a lot of dentists out there, 125 00:07:49,738 --> 00:07:53,458 Wesley Lyon: they do have long-term associates that have relationships with patients that were brought in. 126 00:07:53,718 --> 00:07:57,358 Wesley Lyon: And, you know, this could be a big factor. So if we're in one of these, 127 00:07:57,518 --> 00:07:59,298 Wesley Lyon: you know, what can we do about it? 128 00:07:59,298 --> 00:08:03,378 Tyler Ott: Yeah, I mean, it's kind of similar to the corporate world. You hear a lot about stock options, 129 00:08:03,458 --> 00:08:06,938 Tyler Ott: and there's some things that you cannot provide stock options to your associates 130 00:08:06,938 --> 00:08:11,158 Tyler Ott: that have a vesting period that they require to stay at the practice for a certain 131 00:08:11,158 --> 00:08:15,378 Tyler Ott: amount of time before they're able to vest and be able to exercise their stock 132 00:08:15,378 --> 00:08:16,998 Tyler Ott: option, become an owner of the practice. 133 00:08:16,998 --> 00:08:21,098 Tyler Ott: Practice, you may consider letting them buy in a small portion of the practice, 134 00:08:21,298 --> 00:08:23,638 Tyler Ott: you know, a few percent here or there, you know, to tie them in, 135 00:08:23,698 --> 00:08:27,098 Tyler Ott: to make them have, you know, a reason to improve the practice, 136 00:08:27,258 --> 00:08:28,738 Tyler Ott: kind of have some skin in the game there. 137 00:08:29,278 --> 00:08:35,058 Tyler Ott: Really just kind of giving them some compensation for a reason for that non-compete, really. 138 00:08:35,258 --> 00:08:40,538 Wesley Lyon: Yeah, and then once they become owners, they're partners, so now the non-compete is enforceable. 139 00:08:40,618 --> 00:08:40,898 Tyler Ott: Exactly. 140 00:08:40,898 --> 00:08:45,618 Wesley Lyon: And that's the big part there is, hey, you know, if we look at how can we make 141 00:08:45,618 --> 00:08:49,058 Wesley Lyon: this enforceable, well, that would be one really, really good workaround. 142 00:08:49,118 --> 00:08:52,838 Wesley Lyon: Again, only for, you know, dentists that have been there for a while. 143 00:08:52,978 --> 00:08:55,758 Tyler Ott: You're not getting this for one, a fresh associate that you're just hiring on 144 00:08:55,758 --> 00:08:58,298 Tyler Ott: for, you know, your temp work while you're on vacation. 145 00:08:58,598 --> 00:09:02,518 Tyler Ott: This is for a valued associate that, you know, is there for you, 146 00:09:02,618 --> 00:09:06,318 Tyler Ott: has a great rapport with the patients, and really provides value. 147 00:09:06,558 --> 00:09:09,358 Wesley Lyon: It's kind of like a get engaged and date before you get married. 148 00:09:09,498 --> 00:09:12,318 Wesley Lyon: You know, you don't just go offer stock to somebody coming in the door. 149 00:09:12,438 --> 00:09:13,958 Wesley Lyon: Oh, I'll get my non-compete enforceable. 150 00:09:14,118 --> 00:09:18,018 Wesley Lyon: Let's wait to the point where we need to make this non-compete enforceable. 151 00:09:18,158 --> 00:09:22,718 Tyler Ott: Now, that dating engaging example, that's a good one. That's a good analogy there. 152 00:09:23,118 --> 00:09:25,518 Wesley Lyon: Yeah. You know, you've always got the friend that, you know, 153 00:09:25,518 --> 00:09:30,038 Wesley Lyon: got enamored with every girl he ever saw or same with girls and you just know where it's going. 154 00:09:30,238 --> 00:09:33,138 Wesley Lyon: It's like, hey, let's not do that. Let's take it a little bit slower. 155 00:09:33,218 --> 00:09:35,938 Tyler Ott: Wait until you know, then that's when you make the jump. 156 00:09:36,198 --> 00:09:39,818 Wesley Lyon: Yeah. Because, you know, nobody likes getting divorced in the practice or, 157 00:09:39,878 --> 00:09:41,818 Wesley Lyon: you know, in their personal lives. 158 00:09:41,938 --> 00:09:44,438 Wesley Lyon: But once they have a little bit of ownership, and if it's not much,

159 00:09:44,478 --> 00:09:48,598 Wesley Lyon: hey, they're a partner now, divorce is going to get ugly. So that's one way around it. 160 00:09:49,298 --> 00:09:52,678 Wesley Lyon: You know, another way we've seen people try to get around it is to offer additional 161 00:09:52,678 --> 00:09:55,138 Wesley Lyon: compensation in exchange for the non-compete. 162 00:09:55,718 --> 00:10:00,098 Wesley Lyon: So that's another potential option there. But you really are starting to see 163 00:10:00,098 --> 00:10:05,018 Wesley Lyon: a surgence of doctors that just are 10% owners over practice, 164 00:10:05,298 --> 00:10:06,458 Wesley Lyon: it's becoming more common. 165 00:10:06,538 --> 00:10:10,138 Wesley Lyon: Hey, they don't really want to be an owner, but you want to make sure they don't leap. 166 00:10:10,238 --> 00:10:10,618 Tyler Ott: Mm-hmm. 167 00:10:11,621 --> 00:10:14,061 Wesley Lyon: Well, great. Maybe I'll give them 10% of the profits. They'll be happy. 168 00:10:14,121 --> 00:10:17,241 Wesley Lyon: I'll be happy. I'll never have to deal with this turnover. So that can be a 169 00:10:17,241 --> 00:10:18,181 Wesley Lyon: great thing for everyone. 170 00:10:18,561 --> 00:10:24,461 Wesley Lyon: But definitely something new in the marketplace and something you don't necessarily need to do now. 171 00:10:24,721 --> 00:10:29,561 Wesley Lyon: You just need to be aware of this. Although it could be a good wake-up call for some. 172 00:10:29,661 --> 00:10:34,961 Wesley Lyon: If your associate is that valuable to you, whether or not this non-competes 173 00:10:34,961 --> 00:10:36,801 Wesley Lyon: an issue, you may just want to get ahead of the curve. 174 00:10:36,981 --> 00:10:37,341 Tyler Ott: Absolutely. 175 00:10:38,001 --> 00:10:40,981 Wesley Lyon: But yeah, now let's jump into my favorite part of this where, 176 00:10:41,141 --> 00:10:44,161 Wesley Lyon: you know, the FTC passed a rule. 177 00:10:44,421 --> 00:10:46,981 Wesley Lyon: The FTC is not a lawmaking body. 178 00:10:47,721 --> 00:10:52,461 Wesley Lyon: The FTC, Federal Trade Commission, is an agency of the government, 179 00:10:52,521 --> 00:10:56,221 Wesley Lyon: and they've been given powers, you know, as it was granted. 180 00:10:56,641 --> 00:11:00,901 Wesley Lyon: But what those powers are, we're about to find out in the court system. 181 00:11:01,581 --> 00:11:05,121 Wesley Lyon: So, we actually found out about this rule getting passed from, 182 00:11:05,341 --> 00:11:09,341 Wesley Lyon: what was it, the accounting firm that I think just had the ruling. 183 00:11:09,621 --> 00:11:14,481 Wesley Lyon: So, you know, a couple key things just note here, and we'll get into kind of 184 00:11:14,481 --> 00:11:18,521 Wesley Lyon: who sued and what rulings do we have, do we have any injunctions in there. 185 00:11:19,261 --> 00:11:24,201 Wesley Lyon: But basically, we've got a couple different issues. One, maybe people aren't 186 00:11:24,201 --> 00:11:25,501 Wesley Lyon: thinking of the eminent domain. 187 00:11:25,901 --> 00:11:29,881 Wesley Lyon: You know, you think of it when, hey, the county wants to put a highway way through 188 00:11:29,881 --> 00:11:33,701 Wesley Lyon: your yard and they just tell you they're going to pay you for it and take it, 189 00:11:34,521 --> 00:11:38,641 Wesley Lyon: well, if the value of your business is based off some non-competes being enforceable 190 00:11:38,641 --> 00:11:41,601 Wesley Lyon: and they're no longer enforceable, they've just taken property from you. 191 00:11:42,001 --> 00:11:44,381 Wesley Lyon: So that's likely to get challenged. 192 00:11:46,541 --> 00:11:52,541 Wesley Lyon: Another one, I think on the actual, they had, in order for a non-compete to 193 00:11:52,541 --> 00:11:55,281 Wesley Lyon: be enforceable, you had to be an executive level or higher. 194 00:11:55,641 --> 00:12:00,641 Wesley Lyon: And basically that wasn't defined by a title. It was defined by decision-making. 195 00:12:00,801 --> 00:12:04,001 Wesley Lyon: Do you have decision-making ability over the future of the business? 196 00:12:04,801 --> 00:12:09,721 Wesley Lyon: And one of these accounting firms sued and they said, hey, we've given all of 197 00:12:09,721 --> 00:12:13,561 Wesley Lyon: these clients, all these partners in the accounting firm and their income partners, 198 00:12:13,801 --> 00:12:18,321 Wesley Lyon: which we don't use the same terms in our world. 199 00:12:18,881 --> 00:12:21,081 Wesley Lyon: Associates in our world are kids. 200 00:12:22,701 --> 00:12:27,921 Wesley Lyon: And then income partners are or what y'all would refer to as associates. 201 00:12:28,481 --> 00:12:31,661 Wesley Lyon: They get a cut of all of the revenue they produce. So, I mean, 202 00:12:31,681 --> 00:12:34,181 Wesley Lyon: these income partners have the clients. They've been working on that team, 203 00:12:34,261 --> 00:12:35,301 Wesley Lyon: and they've had the firm clients. 204 00:12:35,481 --> 00:12:37,701 Wesley Lyon: I mean, they could take their team and just take the whole profit away, 205 00:12:37,861 --> 00:12:40,981 Wesley Lyon: and that would be a very, very bad day. 206 00:12:41,101 --> 00:12:45,121 Wesley Lyon: So that was one of the companies that sued. Another was just a pro-business 207 00:12:45,121 --> 00:12:49,641 Wesley Lyon: group, and I know it's going to be wild where these lawsuits got filed, 208 00:12:49,761 --> 00:12:55,461 Wesley Lyon: but it's almost you go look at the SEC listing for college football teams, 209 00:12:55,461 --> 00:12:58,681 Wesley Lyon: and you just kind of throw a dart and see which one you think filed the lawsuit. 210 00:12:59,581 --> 00:13:06,521 Wesley Lyon: This one was Texas though. So two lawsuits filed in Texas and one of them, 211 00:13:06,521 --> 00:13:09,301 Wesley Lyon: I think they did not get this, 212 00:13:10,174 --> 00:13:16,734 Wesley Lyon: The court didn't rule that it was on hold for everybody, but they ruled it was on hold for this firm. 213

00:13:17,014 --> 00:13:17,294 Tyler Ott: Yes. 214 00:13:18,374 --> 00:13:23,174 Wesley Lyon: So this is going to the courts. And that's why we say don't tear up the non-competes. 215 00:13:23,594 --> 00:13:27,154 Wesley Lyon: I think really what they did was this is something they wanted done, 216 00:13:27,294 --> 00:13:30,254 Wesley Lyon: and they don't know what's going to stick and what's not going to stick. 217 00:13:30,354 --> 00:13:34,654 Wesley Lyon: So they said, hey, we're going to throw everything at it and see what sticks. 218 00:13:34,714 --> 00:13:37,314 Wesley Lyon: So Tyler, you had mentioned it's maybe heading to the Supreme Court. 219 00:13:37,574 --> 00:13:40,734 Tyler Ott: Yeah, it's probably heading to the Supreme Court. The question is, 220 00:13:40,874 --> 00:13:45,154 Tyler Ott: can the FTC do this? Do they have the authority? 221 00:13:45,374 --> 00:13:49,974 Tyler Ott: Is it in line with what their abilities are? 222 00:13:50,314 --> 00:13:55,614 Tyler Ott: Are they acting in their capacity? Can they even do this? And that's what the 223 00:13:55,614 --> 00:13:57,674 Tyler Ott: judicial system is going to have to decide. Yeah. 224 00:13:57,774 --> 00:13:59,674 Wesley Lyon: And for those of you listening out there, we are not attorneys. 225 00:14:00,334 --> 00:14:03,014 Wesley Lyon: We are just CPAs giving their opinion. 226 00:14:03,414 --> 00:14:07,774 Wesley Lyon: So, don't take this. If you are looking at a non-compete, you definitely need 227 00:14:07,774 --> 00:14:11,114 Wesley Lyon: to work with an attorney, do all that. But I say that to tell you this next part. 228 00:14:11,234 --> 00:14:16,774 Wesley Lyon: Again, I'm no attorney here. But interestingly enough, since this rule was passed, 229 00:14:17,014 --> 00:14:21,374 Wesley Lyon: and today, the Chevron doctrine was overturned. 230 00:14:21,994 --> 00:14:25,254 Wesley Lyon: And basically what that did, from my understanding, and again, 231 00:14:25,374 --> 00:14:30,454 Wesley Lyon: I'm no political, no law expert, but it seemed as if government agencies, 232 00:14:30,574 --> 00:14:36,754 Wesley Lyon: if they made a rule that was not specifically laid out in the law on whether 233 00:14:36,754 --> 00:14:41,374 Wesley Lyon: or not they could handle it, or whether or not that was the intent of it... 234 00:14:41,879 --> 00:14:46,379 Wesley Lyon: For a long, long time, they would just, the courts would just defer to the agency. 235 00:14:47,079 --> 00:14:52,739 Wesley Lyon: And they overturned that by, you know, saying, no, if the agency wasn't specifically 236 00:14:52,739 --> 00:14:56,079 Wesley Lyon: given this power, then, you know, absolutely not. 237 00:14:56,219 --> 00:15:01,479 Wesley Lyon: And I think, again, I didn't read a ton about this, but I think, 238 00:15:01,499 --> 00:15:03,499 Wesley Lyon: you know, it was, maybe it was the EPA. 239 00:15:03,679 --> 00:15:04,579 Tyler Ott: That's what I think so, yeah. 240 00:15:04,679 --> 00:15:09,279 Wesley Lyon: It was something though, and it was a group of fishermen that they had to comply with this rule. 241 00:15:09,579 --> 00:15:13,559 Wesley Lyon: And I don't know that it was the rule that was actually the issue more than 242 00:15:13,559 --> 00:15:16,639 Wesley Lyon: the fact that they were making the fishermen pay $700 a day. 243 00:15:16,739 --> 00:15:20,499 Wesley Lyon: It's like, yeah, you overstepped your bounds here. Absolutely not. 244 00:15:20,819 --> 00:15:24,939 Wesley Lyon: They have to make a law to force these fishermen to pay. And again, 245 00:15:25,059 --> 00:15:27,119 Wesley Lyon: I know I'm botching this. 246 00:15:27,419 --> 00:15:31,659 Wesley Lyon: I'm just saying it's kind of ironic here. Here we are, we're going back and 247 00:15:31,659 --> 00:15:34,219 Wesley Lyon: we've got something similar that's going to come on the docket. 248 00:15:34,339 --> 00:15:38,999 Wesley Lyon: So where this goes, where it ends up, I don't have the slightest clue. 249 00:15:39,539 --> 00:15:42,199 Wesley Lyon: All I know is it ain't even close to over yet. 250 00:15:42,539 --> 00:15:48,079 Tyler Ott: Yeah. I think it was initially going to be, the rule was going to be fully in effect in September. 251 00:15:48,819 --> 00:15:53,059 Tyler Ott: That's when the ruling has to go down for this injunction. And that's not going 252 00:15:53,059 --> 00:15:54,619 Tyler Ott: to happen. It's going to be months. 253 00:15:54,919 --> 00:15:57,099 Tyler Ott: Who knows when this is going to be finally resolved. 254 00:15:57,579 --> 00:16:00,899 Wesley Lyon: Yeah. So don't tear up your non-competes in the meantime. 255 00:16:01,759 --> 00:16:05,399 Wesley Lyon: Use it as a wake-up call though. Hey, If you do have someone extremely valuable 256 00:16:05,399 --> 00:16:09,459 Wesley Lyon: to you, you know, maybe we want to do something about that. 257 00:16:10,019 --> 00:16:13,379 Wesley Lyon: You know, you never want to have your most valued people just getting paid whatever 258 00:16:13,379 --> 00:16:16,579 Wesley Lyon: because, you know, it's like Jonathan and I were talking about, 259 00:16:16,599 --> 00:16:20,059 Wesley Lyon: well, I mean, yeah, if you just think of that one, would I ever want to pay 260 00:16:20,059 --> 00:16:24,259 Wesley Lyon: a, you know, general practitioner or overpay them a percentage of collections? 261 00:16:24,759 --> 00:16:28,319 Wesley Lyon: The answer is no, unless they brought a whole bunch of revenue with them. 262 00:16:28,319 --> 00:16:32,379 Wesley Lyon: You know, if they have their own patient, their own loyal following, 263 00:16:32,459 --> 00:16:34,739 Wesley Lyon: and I'm across the street and they say, hey, I want a new home. 264 00:16:34,839 --> 00:16:39,199 Wesley Lyon: It's like, well, you know, I'll pay you 30% on the business that you do for 265 00:16:39,199 --> 00:16:43,479 Wesley Lyon: my patients and I'll pay you 40% for all the patients you bring over. 266 00:16:43,679 --> 00:16:47,899 Wesley Lyon: I

mean, hopefully dentists are a friendly bunch. So I don't really see them 267 00:16:47,899 --> 00:16:50,619 Wesley Lyon: doing all that. But hey, one of these corporate buyers could. 268 00:16:51,915 --> 00:16:52,415 Tyler Ott: Absolutely. 269 00:16:53,235 --> 00:16:57,535 Wesley Lyon: Yeah, so don't tear them up. Oh, they're trying to ban them for associates, 270 00:16:57,555 --> 00:17:02,995 Wesley Lyon: and business sales are in good standing, and the lawsuits are just heating up. 271 00:17:03,235 --> 00:17:06,335 Tyler Ott: Yeah, it's going to be interesting to see how this all plays out. 272 00:17:06,935 --> 00:17:11,635 Wesley Lyon: But for now, not a whole lot to do. For those of you younger doctors, 273 00:17:11,955 --> 00:17:15,915 Wesley Lyon: you know, kind of looking at this or listening, you know, hey, 274 00:17:16,015 --> 00:17:19,215 Wesley Lyon: use this wake-up call to be careful of what you sign. 275 00:17:19,215 --> 00:17:22,955 Wesley Lyon: You're still going to be asked to sign a non-compete, but hey, is it reasonable? 276 00:17:23,455 --> 00:17:26,135 Wesley Lyon: You know, some people, they like to just try to trap you in a corner. 277 00:17:26,235 --> 00:17:30,935 Wesley Lyon: Same thing, talking with my buddy, they'll say, hey, this non-compete is enforceable for 70 miles. 278 00:17:31,175 --> 00:17:35,575 Wesley Lyon: And it's like, well, what's the point of that? You're not practicing dentistry 70 miles from here. 279 00:17:36,035 --> 00:17:42,315 Tyler Ott: Yeah. I mean, and a lot of these attorneys offer a contract review and we're not attorneys. 280 00:17:42,455 --> 00:17:45,555 Tyler Ott: It would definitely be valuable that if you're expected to sign something, 281 00:17:45,655 --> 00:17:48,755 Tyler Ott: having someone that's an expert on it to review it and to make sure that it 282 00:17:48,755 --> 00:17:51,235 Tyler Ott: makes, you know, it's legal in a sense. 283 00:17:51,335 --> 00:17:54,335 Wesley Lyon: Definitely, and Patrick Craig does those here. So we have somebody that can 284 00:17:54,335 --> 00:17:57,095 Wesley Lyon: help you out with that, you know, make sure you're in good standing. 285 00:17:57,175 --> 00:18:01,735 Wesley Lyon: But, you know, overall though, just like every big ruling that comes out, 286 00:18:01,775 --> 00:18:04,015 Wesley Lyon: every big media piece, you know, keep calm. 287 00:18:04,335 --> 00:18:08,855 Wesley Lyon: It ain't over yet. It's really just getting started. But my guess will be that 288 00:18:08,855 --> 00:18:12,775 Wesley Lyon: we're not going to end as strict as this was written. 289 00:18:13,095 --> 00:18:16,395 Tyler Ott: And either way, if something happens, we're here to give you the guidance on 290 00:18:16,395 --> 00:18:20,075 Tyler Ott: it once it all, once all the dust settles and we get the final, you know, say. 291 00:18:20,655 --> 00:18:25,995 Wesley Lyon: Yeah. And with that, we thank you all for tuning in. One last quick tidbit. 292 00:18:26,355 --> 00:18:32,895 Wesley Lyon: We are going to St. Thomas on January 20th. We have the Ritz-Cartland, going to be awesome. 293 00:18:33,615 --> 00:18:38,015 Wesley Lyon: I just talked to Sarah about putting an advertisement out and she informed me 294 00:18:38,015 --> 00:18:39,855 Wesley Lyon: that we're already filling up. 295 00:18:39,915 --> 00:18:43,115 Wesley Lyon: So if you are listening, it's a great one, going to be five days. 296 00:18:43,315 --> 00:18:48,255 Wesley Lyon: You don't have to come to every day, but at 8.30 to 12.30 or maybe 8 to 12. We do education. 297 00:18:48,555 --> 00:18:52,215 Wesley Lyon: Then after that, you're in St. Thomas. We're going to jump on the catamaran. 298 00:18:53,215 --> 00:18:56,595 Wesley Lyon: Hopefully, we're going to get to see, you know, St. 299 00:18:56,715 --> 00:19:01,335 Wesley Lyon: Thomas is sitting right there. Hopefully, we get to take it and see a nice little tour of Epstein Island. 300 00:19:02,055 --> 00:19:06,095 Wesley Lyon: From the outside, though, not the inside. We just want to take a look at it. 301 00:19:06,675 --> 00:19:10,015 Wesley Lyon: But that's right there. And then otherwise, it's a great place, 302 00:19:10,075 --> 00:19:12,455 Wesley Lyon: great little restaurants there. And weather's beautiful. 303 00:19:12,795 --> 00:19:16,815 Wesley Lyon: It's in January. January you're not going to want to miss out so make sure get 304 00:19:16,815 --> 00:19:21,555 Wesley Lyon: in there sign up today otherwise we will see you next time.