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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: