Why Non-Compete Clauses Should Be Banned
The US Federal Trade Commission’s new rule banning non-compete clauses in employment contracts is predictably being challenged by business lobbies who argue that employers need such tools to protect trade secrets and investments in training. But the evidence overwhelmingly shows that such restrictions do far more harm than good.
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CHICAGO – Last week, the US Federal Trade Commission issued a rule banning provisions in employment contracts that forbid employees to work for a competitor after they quit or are fired. Within hours, a Texas firm sued to block the rule, and the following day, the US Chamber of Commerce, a business lobby, sued as well.