Posted on 04/20/2023 7:41:36 PM PDT by anthropocene_x
Corporate America is mobilizing to quash a sweeping FTC proposal that would prevent employers from limiting where their former staffers can work, citing the need to protect trade secrets.
In series of letters this week to the FTC, which proposed the restrictions in January, the U.S. Chamber of Commerce asked the agency to stand down or shrink its proposal and questioned the legal authority behind it.
Noncompete policies can range from prohibitions of working for a competitor or even working in the same geographic region. And the periods they cover vary, depending on what state courts deem enforceable, from six months to five years.
The outcome of the battle will affect large swaths of the U.S. workforce. Roughly 30% of private sector employers currently use noncompete agreements for all their workers. Businesses that use the policies typically cite the need to protect trade secrets.
The FTC, which estimates that banning noncompetes could boost workers’ earnings by nearly $300 billion annually and broaden job opportunities for 30 million Americans.
The Chamber of Commerce, one of the nation’s most powerful business lobbies, organized a coalition of industry groups that sent a letter to the FTC on Monday urging the agency to “withdraw its proposed rule. The chamber, which threatened in January to sue the FTC over its proposal, declined to comment.
(Excerpt) Read more at nbcnews.com ...
Cherish your chains, wage/NCA slaves.
If you hire older workers, you don’t need non-competes.
Added benefit; they show up.
We need more independent businesses that aren’t into hampering an individuals right to earn money. Companies that aren’t into limiting labors mobility using lawyer parasitism.
Also, the trade secret excuse is a joke in an globalist world with foreigners ‘hanging all over’ public & private institutions like monkeys in a tree.
+1
I’m an older guy working from home.
I do everything I used to only much more slowly.
However, I’m learning to integrate AI into my business.
imho it will not be long before my output is more than ten sharp sharp 25 year olds
Big companies will just headhunt instead of doing their own research and development, while the smaller companies will become non-competitive.
What’s wrong with an NDA instead of NCO? It’s just as thorough, if not perhaps a bit more so if it’s detailed enough.
This is bypassed by working at a friends company or elsewhere for a month and then moving
If future employees do not like the agreement, they can say no thank you and look for another job.
Another compelling reason for small business to invest in Artificial Intelligence and Labor Saving technology.
Yep. China probably already has their damn trade secrets. Some temp staffing agencies have no-competes too. What trade secrets are they protecting? It’s just to keep former employees from competing with them as independent contractors. It’s bs.
” the trade secret excuse is a joke in an globalist world with foreigners ‘hanging all over’ public & private institutions like monkeys in a tree.”
This was never about Trade Secrets (in the vast majority of cases).
I spent 40 years in the wholesale hardware distribution industry. With 2 privately held companies. I never signed a no compete clause. I wore a lot of hats over that period of time. (at one point I had a VP title)
BUT, I did refuse to sign an intellectual property clause for 3 job interviews during my life. In all cases they included a clause that if I had an idea during my employment with the company, a patent that might grow from it was company property. I was NOT an engineer, nor chemist.
I never regretted telling them no.
imho it will not be long before my output is more than ten sharp sharp 25 year olds
= = =
I’ll submit your output to AI and ask it for a one-word summary.
Them put them on a slide show.
Let’s just streamline this whole production process.
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