Corporate law updates 2023

In 2023, company leaders will have to address new regulations and laws in three areas — noncompete clauses, pay transparency, and human capital disclosures — that have far-reaching implications that company leaders may not have fully grasped.
How these changes will play out is far from clear, but the time to start thinking about them is now.

We are pleased to present the latest edition of EY Corporate and Commercial Law global update, the purpose of which is to inform EY clients and colleagues of the noteworthy and most recent legal news across a number of jurisdictions.

This, and much more analytical data has been compiled into the just-published 2023 State of the Corporate Law Department report, which examines how corporate law departments, by and large, are managing these pressures to control outside counsel costs while anticipate increasing legal spend across practices, global regions, and industry sectors.

Here are some of the notable new laws to hit the books next year.
Twenty-seven states will see minimum wage increases in 2023 with the majority of the states implementing them starting Jan. 1.
The new salary floor comes following calls from workers' rights groups, elected officials and others to increase wages for low-income workers.