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❗In a big win for workers, The Federal Trade Commission has banned non-compete agreements. “Noncompete clauses keep wages low, suppress new ideas, and rob the American economy of dynamism, including from the more than 8,500 new startups that would be created a year once noncompetes are banned,” said FTC Chair Lina M. Khan. “The FTC’s final rule to ban noncompetes will ensure Americans have the freedom to pursue a new job, start a new business, or bring a new idea to market.” Under the FTC’s new rule, existing noncompetes for the vast majority of workers will no longer be enforceable after the rule’s effective date. Check out the discussion in our community thread here! https://lnkd.in/gkuzD2XN

FTC bans Non-Competes - Levels.fyi Community

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Nabeel Khan

Sr. Product Manager - Tech @ Amazon

3mo

This is huge! A lot of the best innovations in the world have come out of small companies that were willing to take a chance and start on a new idea. Non-competes do have their place in preventing the leaking of trade secrets, but most startup founders succeed when they have some degree of domain experience in the field they are trying to build something in, which is usually from past experience working at another company where they saw current solutions didn't work. No reason that big businesses with vast legal departments should get to have all the fun :)

Shouryan Nikam

Software Engineer

3mo

In this economy it’s not like people had competing offers anyway

1 Reaction

Abdullah Nauman

ML Infra @ Google | Prev @ Agapé (YC S21)

3mo

Lina Khan W

1 Reaction

Nafis Khan

CS @CCNY | Prev. @Meta @GoDaddy @Google exploreCSR

3mo

Big W

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Federal Trade Commission

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Today, the Federal Trade Commission issued a final rule to promote competition by banning #noncompetes nationwide, protecting the fundamental freedom of workers to change jobs, increasing innovation, and fostering new business formation. The final rule will become effective 120 days after publication in the Federal Register. Check out the fact sheet: https://lnkd.in/egVcR8Q5 Read the final rule: https://lnkd.in/e5NPjR_F Noncompete Clause Rule: A Guide for Businesses and Small Entity Compliance Guide: https://lnkd.in/dhYjPFm5 Estimated Increases in Total Annual and Average Worker Earnings by State: https://lnkd.in/gacCBAgu Learn more: https://lnkd.in/g-C3FUs5
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Michelle Webb

Growth & Strategy Advisor at HRO Resources and The Broker Collective 281-883-9814 MichelleW@HROResources.com
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The Federal Trade Commission has adopted a ban on noncompete policies. The link below has great information, including exceptions of the rule regarding senior executives and existing noncompete agreements. Weigh in on your thoughts in the comments below!
Federal Trade Commission

35,345 followers
3mo Edited

Today, the Federal Trade Commission issued a final rule to promote competition by banning #noncompetes nationwide, protecting the fundamental freedom of workers to change jobs, increasing innovation, and fostering new business formation. The final rule will become effective 120 days after publication in the Federal Register. Check out the fact sheet: https://lnkd.in/egVcR8Q5 Read the final rule: https://lnkd.in/e5NPjR_F Noncompete Clause Rule: A Guide for Businesses and Small Entity Compliance Guide: https://lnkd.in/dhYjPFm5 Estimated Increases in Total Annual and Average Worker Earnings by State: https://lnkd.in/gacCBAgu Learn more: https://lnkd.in/g-C3FUs5
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Visions Human Resource Services, LLC

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Despite pending legal challenges, now is the time to revisit your employment policies and practices. If you need support doing this, let us know.
Federal Trade Commission

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3mo Edited

Today, the Federal Trade Commission issued a final rule to promote competition by banning #noncompetes nationwide, protecting the fundamental freedom of workers to change jobs, increasing innovation, and fostering new business formation. The final rule will become effective 120 days after publication in the Federal Register. Check out the fact sheet: https://lnkd.in/egVcR8Q5 Read the final rule: https://lnkd.in/e5NPjR_F Noncompete Clause Rule: A Guide for Businesses and Small Entity Compliance Guide: https://lnkd.in/dhYjPFm5 Estimated Increases in Total Annual and Average Worker Earnings by State: https://lnkd.in/gacCBAgu Learn more: https://lnkd.in/g-C3FUs5
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Jamie Parker

Employment & Business Attorney @ Roderick Linton Belfance, LLP | Policy Consultant
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Summer is here, and with it comes a new development from the Federal Trade Commission (FTC). The FTC has issued a final rule on non-compete agreements for employees, which is sure to have significant implications for all businesses and their workers. However, it's worth noting that the final rule is not ready yet. The effective date is in August 2024. It prohibits employers from entering into new noncompetes with any employee, including senior executives, or representing to any employee that they are subject to a noncompete. Current non-competes would remain valid only for "senior executives" with current agreements. The Final Rule applies to anyone who works, paid or unpaid, for a for-profit employer and to independent contractors. After a year considering public commments and legal review the rule was published on April 23, 2024. Several entities were true to their word and filed lawsuits against the FTC to invalidate the rule and stay implementation. The first was filed hours after the FTC published it online. The final rule is about 570 pages (double spaced). #FTC #noncompete #businessnews
Federal Trade Commission

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3mo Edited

Today, the Federal Trade Commission issued a final rule to promote competition by banning #noncompetes nationwide, protecting the fundamental freedom of workers to change jobs, increasing innovation, and fostering new business formation. The final rule will become effective 120 days after publication in the Federal Register. Check out the fact sheet: https://lnkd.in/egVcR8Q5 Read the final rule: https://lnkd.in/e5NPjR_F Noncompete Clause Rule: A Guide for Businesses and Small Entity Compliance Guide: https://lnkd.in/dhYjPFm5 Estimated Increases in Total Annual and Average Worker Earnings by State: https://lnkd.in/gacCBAgu Learn more: https://lnkd.in/g-C3FUs5
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Rachel Sifuentes

Attorney at Federal Trade Commission
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Free compliance webinar on May 14th at 11am ET on the new rule banning noncompetes:
Federal Trade Commission

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Today, the Federal Trade Commission issued a final rule to promote competition by banning #noncompetes nationwide, protecting the fundamental freedom of workers to change jobs, increasing innovation, and fostering new business formation. The final rule will become effective 120 days after publication in the Federal Register. Check out the fact sheet: https://lnkd.in/egVcR8Q5 Read the final rule: https://lnkd.in/e5NPjR_F Noncompete Clause Rule: A Guide for Businesses and Small Entity Compliance Guide: https://lnkd.in/dhYjPFm5 Estimated Increases in Total Annual and Average Worker Earnings by State: https://lnkd.in/gacCBAgu Learn more: https://lnkd.in/g-C3FUs5
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Connecticut Wealth Management, LLC

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The Federal Trade Commission just unveiled its proposed final rule on non-compete agreements, signaling a significant shift in the employment landscape. The FTC estimates that banning noncompetes will result in more start-ups, increased innovation, and higher earnings. Stay ahead by diving into the details outlined in their fact sheet: https://buff.ly/3W7Gp4L #noncompetes #businessowners #executives #innovation
Federal Trade Commission

35,345 followers
3mo Edited

Today, the Federal Trade Commission issued a final rule to promote competition by banning #noncompetes nationwide, protecting the fundamental freedom of workers to change jobs, increasing innovation, and fostering new business formation. The final rule will become effective 120 days after publication in the Federal Register. Check out the fact sheet: https://lnkd.in/egVcR8Q5 Read the final rule: https://lnkd.in/e5NPjR_F Noncompete Clause Rule: A Guide for Businesses and Small Entity Compliance Guide: https://lnkd.in/dhYjPFm5 Estimated Increases in Total Annual and Average Worker Earnings by State: https://lnkd.in/gacCBAgu Learn more: https://lnkd.in/g-C3FUs5
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Messick Lauer & Smith P.C.

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Last week (April 23, 2024), the Federal Trade Commission (“FTC”) issued a final rule to prohibit the use of non-compete clauses in certain employer agreements and policies. The rule will become effective 120 days after it is published in the Federal Register. The rule also supersedes all state laws and regulations, unless those laws or regulations are more restrictive than the final FTC rule. The final version of the prohibition of non-compete clauses largely keeps in place the proposed rule published on January 19, 2023. For some more background on the rule (i.e. employees and employers subject to the regulation (most notably, federally chartered credit unions are excluded from coverage as employers under the rule), communication obligations for impacted employees, the rule’s impact on non-solicitation and non-disclosure clauses, etc.), please visit a previous post on the proposed rule (https://lnkd.in/ercAttu3), as well as a podcast on this subject matter. https://lnkd.in/e_mBmh97 You can read the complete article by Mike Heller on our website https://lnkd.in/eqtwVZHd Please reach out to us at Mailbag@cusolaw.com if you have any questions or concerns about this Final Rule. #creditunions #CUSOs #noncompetes #FTC
Federal Trade Commission

35,345 followers
3mo Edited

Today, the Federal Trade Commission issued a final rule to promote competition by banning #noncompetes nationwide, protecting the fundamental freedom of workers to change jobs, increasing innovation, and fostering new business formation. The final rule will become effective 120 days after publication in the Federal Register. Check out the fact sheet: https://lnkd.in/egVcR8Q5 Read the final rule: https://lnkd.in/e5NPjR_F Noncompete Clause Rule: A Guide for Businesses and Small Entity Compliance Guide: https://lnkd.in/dhYjPFm5 Estimated Increases in Total Annual and Average Worker Earnings by State: https://lnkd.in/gacCBAgu Learn more: https://lnkd.in/g-C3FUs5
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Mayra C. Artiles Fonseca

Corporate & Commercial Attorney | Business Immigration | CIPP/US | Adjunct Professor
3mo
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#EmploymentAlert - FTC issues final rule banning #noncompetes nationwide. The Final Rule will become effective 120 days after publication. #Employers be mindful of these changes to amend any existing employment documents. Note that existing noncompetes for senior executives can still be enforceable . However, employers are prohibited from initiating or enforcing new noncompetes regardless of employment category. Contact us at #EstrellaLLC for more information and developments on this topic.
Federal Trade Commission

35,345 followers
3mo Edited

Today, the Federal Trade Commission issued a final rule to promote competition by banning #noncompetes nationwide, protecting the fundamental freedom of workers to change jobs, increasing innovation, and fostering new business formation. The final rule will become effective 120 days after publication in the Federal Register. Check out the fact sheet: https://lnkd.in/egVcR8Q5 Read the final rule: https://lnkd.in/e5NPjR_F Noncompete Clause Rule: A Guide for Businesses and Small Entity Compliance Guide: https://lnkd.in/dhYjPFm5 Estimated Increases in Total Annual and Average Worker Earnings by State: https://lnkd.in/gacCBAgu Learn more: https://lnkd.in/g-C3FUs5
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Kole Kobel

Attorney at Stadler Sacks LLC
3mo
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While this is definitely a step in the right direction, I believe this is a step too far. It will be interesting to see what challenges this final rule faces and whether it survives.
Federal Trade Commission

35,345 followers
3mo Edited

Today, the Federal Trade Commission issued a final rule to promote competition by banning #noncompetes nationwide, protecting the fundamental freedom of workers to change jobs, increasing innovation, and fostering new business formation. The final rule will become effective 120 days after publication in the Federal Register. Check out the fact sheet: https://lnkd.in/egVcR8Q5 Read the final rule: https://lnkd.in/e5NPjR_F Noncompete Clause Rule: A Guide for Businesses and Small Entity Compliance Guide: https://lnkd.in/dhYjPFm5 Estimated Increases in Total Annual and Average Worker Earnings by State: https://lnkd.in/gacCBAgu Learn more: https://lnkd.in/g-C3FUs5
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Victoria Caron

Experienced Dental Office Administrator: Maximizing Revenue Cycle Efficiency & Streamlining Systems
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Supporting, guiding, and empowering others leads to remarkable achievements. It's the relationships between individuals, not corporate logos, that foster loyalty. If you're uneasy about this shift as a leader, take a step back and assess it impartially. In my opinion, this movement signifies a positive change, reinforcing the freedom of choice that many of us cherish in the US, especially when it comes to where we choose to work. Let’s embrace this opportunity for growth and progress! 💼🌟 #NonCompete #Leadership #ChangeIsGood
Federal Trade Commission

35,345 followers
3mo Edited

Today, the Federal Trade Commission issued a final rule to promote competition by banning #noncompetes nationwide, protecting the fundamental freedom of workers to change jobs, increasing innovation, and fostering new business formation. The final rule will become effective 120 days after publication in the Federal Register. Check out the fact sheet: https://lnkd.in/egVcR8Q5 Read the final rule: https://lnkd.in/e5NPjR_F Noncompete Clause Rule: A Guide for Businesses and Small Entity Compliance Guide: https://lnkd.in/dhYjPFm5 Estimated Increases in Total Annual and Average Worker Earnings by State: https://lnkd.in/gacCBAgu Learn more: https://lnkd.in/g-C3FUs5
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