The Federal Trade Commission (FTC) announced a notice of proposed rulemaking on January 5, 2023, that would ban employers from entering into or maintaining noncompete clauses with their workers. The proposal was issued in response to President Joseph Biden’s July 9, 2021 executive order and related statements calling on the FTC to ban or limit employment contract restrictive covenants that restrict workers’ freedom to change jobs. See our LawFlashes discussing the proposal and frequently asked questions. While President Biden’s earlier comments surrounding the 2021 executive order appeared to be focused on lower-level employees, the newly proposed rule defines “worker” in an expansive manner to include all employees as well as individuals classified as independent contractors, externs,
The US FTC proposes a ban on noncompete clauses in employment contracts which may have far-reaching implications for executive compensations
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