The Federal Trade Commission (FTC) has implemented a nationwide ban on non-compete agreements, a move that is expected to impact approximately 30 million American workers, or about one in five, and cost Americans $300 billion annually. This rule, effective from August, aims to enhance worker mobility, increase competition, and potentially boost wages. The ban has been met with mixed reactions, with some viewing it as a significant step towards economic mobility and narrowing the gender gap in entrepreneurship, while others criticize it as an overreach of federal power and a potential to stifle investment. The policy could particularly affect various sectors including mergers and acquisitions, healthcare, and life sciences, prompting a range of legal and business considerations. It is also seen as a game-changer for US businesses and part of a strong pro-worker agenda.
Don't Fret (Yet): Trade Secrets, NDAs and Non-Solicits After the FTC Non-Compete Rule https://t.co/KLWgVoqQti | by @Holland_Knight
Don't Fret (Yet): Trade Secrets, NDAs and Non-Solicits After the FTC Non-Compete Rule https://t.co/IFJbm1ZnEM
The FTC banned non-compete agreements. Experts say Philly doctors should wait to shred their contracts. https://t.co/mQCEC2JMn8
For too long, corporations have abused non-compete agreements to prevent employees from leaving and finding a better job. That all ends with a new @FTC rule that will make non-compete agreements unenforceable. This is all part of the Biden Admin's strong pro-worker agenda. https://t.co/0c34qiwYEY
Business Groups Challenge New FTC Rule Prohibiting Noncompete Agreements https://t.co/cyd5WxwGwg #FTC #Work #Noncompetes @millercanfield https://t.co/4BqQowTnMc
4 ways the ban on non-competes could impact your small business. @stevestrauss https://t.co/vC0oReE2Sk
The FTC vs. Noncompete Agreements: And the Winner Is…?? https://t.co/TzFuosjpP2
Florida Businesses: Navigating the FTC's Noncompete Rule https://t.co/gnhytuiqLF
Non-Compete Clauses and Professional Liability https://t.co/sd5lSOtcST | by @dricommunity
Expecting the Unexpected https://t.co/dkpcN6CHal #Federal #Noncompetes #Litigation @Mintz_Law https://t.co/FfeVhzhT8F
The New FTC Rule Banning Non-Competes: FAQs https://t.co/48T7Q7zxdO
Insight: Alston & Bird's Donald Hammett and Christina Heddesheimer analyze the FTC noncompete rule's effect on M&A and private equity. https://t.co/996OKdu4LG
[Webinar] Understanding the FTC's Noncompete Final Ruling: Practical Insights for Employers - April 30th, 1:00 pm - 2:00 pm EST - Register now https://t.co/hUAAGRBo2g
A Showdown Over Noncompete Agreements Is Coming. Buckle Up. https://t.co/ZNcGdyHQF5 https://t.co/ZEZhzZHlmW
At least ten states in America have blocked the use of non-compete clauses, which bar workers from leaving a firm to join a rival, on low-wage positions. The FTC now wants to ban them more widely https://t.co/ZyEOh9UJzv https://t.co/kA5bcWHCrf
The FTC's ban on noncompetes is a game-changer for US businesses. But here's the real secret to retaining talent: invest in engagement. Discover why fostering a culture of engagement is the ultimate people strategy: https://t.co/UimMj4su9b
Non-Competes: What the FTC’s Rule May Mean for Health Care & Life Sciences Providers https://t.co/fTk1fI47Je #Health #Work #FTC @mandrews110 https://t.co/aPl1OazV2x
The FTC's ban on noncompete clauses is set to spur more state action to limit the restrictive covenants, adding momentum to an already expanding landscape of these laws. https://t.co/ra0JrHOYGh
FTC Ban on Non-Competes Could Be Challenging to Asset Managers https://t.co/LNhfQVCHVq #FTC #noncompetes #assetmanagers @ACAIntl https://t.co/jdVntreYgH
Advocates hope that lifting non-compete clauses on workers will inject dynamism into the American economy and lead to stronger wages; critics warn it will stifle investment https://t.co/8zRGFS6ExF 👇
Banning non-compete clauses allows more economic mobility and creates new opportunities for a better life for millions of workers. https://t.co/WPZiwOFoAe
NEW – The FTC Moves to Ban Non-Compete Agreements at the Federal Level Starting in August "The FTC estimates that 30 million Americans, or about 1-in-5 workers, are covered by these restrictions and they range from CEO's to hourly workers." https://t.co/MRO10zWFGf
Even for an agency that has sought in recent years to stretch its regulatory reach, the new FTC rule banning noncompete agreements is a stunning expansion of federal power—one that courts almost certainly will be asked to rein in. Story: https://t.co/ILNs13ilSZ https://t.co/IsHZkZ1FVX
ICYMI: @FTC & @LinaKhanFTC just banned noncompete agreements, which cost Americans billions of $ per year & are simply anti-worker. No noncompetes means better competition, increased mobility, and higher wages. Proud to have called for this w/ @SenWarren. https://t.co/OSC41nfSFO
Absolutely unhinged reaction to the FTC’s non-compete rule from the AHA. Also from the Federation of American (For-Profit) Hospitals, whose members have openly told investors that owning dominant hospitals in small towns helps keep staff wages down. https://t.co/ifFRgDfKsk
Silicon Valley's Happy Coincidence: No Noncompetes in California In the wake of the @FTC banning noncompetes nationwide, @DavidSacks explains how California not allowing these agreements helped accelerate innovation in tech: "As a result of (no noncompetes in CA), the talent… https://t.co/K2vTC8T8Nq
"The FTC noncompete ruling will narrow the gender gap in entrepreneurship," Cornell professor @marxmatt writes in a new commentary. https://t.co/dN3loe7rHQ
FTC Final Rule Limiting Non-Competes: Considerations for M&A Transactions https://t.co/Vo9duQ2t7c #employmentlaw #mergers #acquisitions @Mergermarket https://t.co/yICjrt8U89
How non-compete clauses cost Americans $300 billion a year https://t.co/xfmdm4R8Sz