AgHires’ Post

Ms. Hochul's proposed limitations included a compensation threshold in which noncompete agreements are permitted for earners of $250,000 or more in the interest of potentially reducing any incentive for retaining businesses and corporations to leave in the state. Other states have taken the approach of establishing a pay threshold for noncompete agreements, while four states — California, Minnesota, North Dakota and Oklahoma — have banned the clauses entirely. #noncompete #advisors #brokers #agencies #consultants #employees #ceos #cfos #management #competition #employers #business

New York Governor Hochul vetoes the pending non-compete ban in New York. As we reported last week, Hochul had until this past Saturday to sign or veto legislation previously passed by the New York legislature that would ban virtually all non-competes in the state. Hochul had reportedly delayed signing the bill awaiting income and industry exceptions, but those never materialized in time. Please see our below alert, which I co-authored with Bernie Olshansky, Robert Whitman, James Yu, and Nicholas De Baun, for the relevant details and what employers should keep in mind heading into 2024. #employmentlaw #noncompete #newyorkbusiness #legalupdate https://lnkd.in/gqNesp5Z

Though noncompete bans are being challenged in US courts, there are four steps companies can proactively take to deal with signed and anticipated contracts. #ACCDocket #inhouse #noncompete

More developments on the non-compete front, from Peter Spanos. Bottom line: if you are hiring, terminating, or selling, check with your lawyer about whether you can enforce existing and proposed employee non-competes in your state.

Governor Hochul's veto of a bill that would have banned all noncompete agreements in New York state bucks the national trend against these restrictions. However, the Governor left the door open to the passage of a revised bill with an income cap on the ban. You can read my article here to learn the details. #noncompete #employmentlaw https://lnkd.in/e2WEs-WW

Crowell & Moring’s Stefan Meisner comments on the FTC’s vote to ban most noncompete agreements. Read more in The Hill:

Crowell & Moring’s Stefan Meisner comments on the FTC’s vote to ban most noncompete agreements. Read more in The Hill:

Crowell & Moring’s Stefan Meisner comments on the FTC’s vote to ban most noncompete agreements. Read more in The Hill:

I bet a lot of you disagree, but I am thrilled about the recent ban of #noncompete agreements by the FTC. Yes. Noncompetes are useful to businesses, OBVIOUSLY. But they are harmful to talent. Restrictive of new enterprise and depressing as fuck. I have never signed a noncompete agreement because I refuse to be held back from adding value to the world, but also I've been able to make that choice since I work so much for myself or as a consultant. The one instance I can see supporting them is in instances of a company sale—obviously it's unideal for the founders to immediately start competing companies... however it's a free market. What do you think about the new noncompete law?

So long and good riddance to non-compete agreements.