Big news! The Federal Trade Commission (FTC) has issued a ban on Noncompete clauses. I know many of you have them, they are usually part of all those papers you sign at the beginning of your relationship with your employer. I know we don’t think twice about signing them primarily because it is a condition of employment.
Does this mean it’s null and void? Well, the new rule will take effect in 120 days, so if you take a job after 4-months, employers are not allowed to make you sign them. Does that mean you can go poaching your clients if you leave? Probably not, you for sure can’t abscond with company secrets, intellectual property, procedures, protocols, etc. But it allows you to work for competitors, and they don’t have some giant leash on you.
Of course, the US Chamber of Commerce plans on suing, claiming it stifles competition, hurts businesses, yada, yada, yada. Personally, I think it’s a great development for all of us. Taking a claw out of our collective backs, and giving some power back to the worker.
Here’s the article:
https://lnkd.in/gEkd2HBt
