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FTC announces rule banning noncompetes

ftc.gov

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Re: FTC announces rule banning noncompetes

#82

Post by bee_rider »

j-bos wrote: post #40
mxwsn wrote: post #5

Why now?

Election year

Which is good, right? Politicians serving the interest of their constituents in the hopes of being re-elected is, like, the intended operation of democracy.

If only we could have an election year, every year, without all the annoying ads and stress.

Re: FTC announces rule banning noncompetes

#83

Post by dbcurtis »

benced wrote: post #30

I suspect this is bad for California, its lack of noncompetes was a huge differentiation for a while. (how bad? I don't know.)

Eh.... any impact will play out over a long period of time. Everything interesting happens on the margin, so I do agree with you that CA's laws around non-competes has had a beneficial impact on new business formation, and contributed to CA's economic growth. If this gets fully implemented, it will level the playing field with other states, but it will take some time (a decade would be my bet) for the impact to be fully felt.

Re: FTC announces rule banning noncompetes

#85

Post by jjtheblunt »

aidenn0 wrote: post #64

I am 100% for this, but it makes me sad that the legislative branch has nearly completely abandoned its duty to pass laws in favor of granting the executive branch the authority to regulate just about everything. This is a problem for two main reasons: 1. The executive branch can unilaterally revoke these regulations, making them more volatile. Maybe my non-compete is invalid today, but will it be in 4 years when I a…

> The executive branch can unilaterally revoke these regulations

The US Constitution + amendments delineates the powers of the branches. Is the situation you describe possibly a window in time when executive branch constitutional overreach has not been yet challenged?

[ edit : great explanations below -> sincere thanks ]

Re: FTC announces rule banning noncompetes

#88

Post by aidenn0 »

cjen wrote: post #24

This seems incredibly important. I know non-compete rules personally held me back at a previous tech job. I'm interested to see how this hits finance firms – I know people who were forced to take a year off between jobs (although they were compensated the whole time). Always thought that would be a pretty sweet deal.

I personally believe that lack of non-competes was one ingredient for Silicon Valley becoming what it is.

Re: FTC announces rule banning noncompetes

#89

Post by JumpCrisscross »

yieldcrv wrote: post #57
BWStearns wrote: post #33

Earlier quoted context omitted.

Options are also contracts and the FTC seems to have succeeded in regulating those.

the FTC regulates options? it seems like thats a mixture of the SEC and IRS

CFTC regulates commodities-based options, the SEC securities-based ones. The FTC and IRS are not proximately relevant.
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