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Research shows that non-compete agreements make labor markets less competitive, reduce wages and reduce labor mobility. [3] [1] While non-compete agreements may incentivize company investment into their workers and research, they may also reduce innovation and productivity by employees who may be forced to leave a sector when they leave a firm.
A 2023 petition to the FTC to ban non-compete agreements estimated that about 30 million workers (about 20% of all U.S. workers) were subject to a noncompete clause. [3] While higher-wage workers are comparatively more likely to be covered by non-compete clauses, non-competes covered 14 percent of workers without college degrees in 2018. [4]
In addition to banning all new noncompetes, the FTC's rule applies to all existing noncompete agreements. Employers will now have to provide notice to workers bound to a current noncompete that it ...
I get people in my law practice asking me questions on non-competition agreements every week. That's because most people don't even realize they've signed something saying they can't work for a ...
The U.S. Federal Trade Commission has proposed a rule that would ban companies from entering or attempting to enter a non-compete agreement with a worker. The rule banning non-compete clauses in...
Non-solicitation agreement provisions—alongside the non-compete clause (NCC) and the non-disclosure agreement (NDA)—constitute one of three restrictive covenants frequently found within a business contract. They may be entered into with both employees and independent contractors—in addition to multiple entities—as part of a larger ...