The Trump family business has agreed to a voluntary ethics agreement that would ban it from striking direct deals with foreign governments after inauguration, but would give it a free hand to pursue ventures with private foreign companies.

The Trump Organization announced Friday that President-elect Trump will have no involvement with the management of his family’s business and the company will donate profits received from foreign governments,

U.S. President-elect Donald Trump's company said Friday it has retained William Burck, a managing partner of U.S. trial firm Quinn Emanuel Urquhart & Sullivan and longtime Republican insider, as its outside ethics advisor.

The Trump Organization announced Friday that the company will not enter into new agreements with foreign governments while Donald Trump is in office.

Trump's company says it won't strike direct deals with foreign governments after inauguration, but can make deals with private foreign companies.

The Trump Organization on Friday announced that President-elect Donald Trump will not have any involvement in managing his real-estate and branding empire during his second term and appointed an outside ethics adviser to monitor major company actions – part of several measures the organization said it was taking to avoid conflicts of interest as Trump prepares to return to the White House later this month.

The Trump Organization submitted an ethics plan for Donald J. Trump’s second presidential term that doesn’t rule out striking new deals with foreign companies — a break with its approach to managing conflicts of interest when he first took office.

The company is set to release a series of ethics rules governing Donald Trump’s interactions with his business empire.