Non-compete clauses are a thing of the past thanks to a new ruling from the Federal Trade Commission . The FTC issued a rule to ban non-compete clauses for employees, according to a release from the commission on Tuesday. It first proposed the rule to get rid of the practice last year.
Senior-level executives, however, will still be subject to the non-compete clause they may have signed, but the company can’t create a new non-compete or modify the current one. The FTC says the banning of non-compete clauses will see the creation of more than 8,500 new businesses a year. It will also increase worker pay, lower healthcare costs, and lead to tens of thousands of new patents. But don’t quit your job just yet. The U.S.
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