Bethany Ibarra’s Post

Big news for sales professionals, recruiters and entrepreneurs! What are your thoughts on the new ruling? The Federal Trade Commission (FTC) has enacted a definitive rule banning noncompete clauses, which are expected to have extensive economic benefits. This decision is predicted to foster more than 8,500 new startups each year, raise average worker earnings, and reduce healthcare costs significantly. Additionally, the rule is anticipated to stimulate innovation, potentially resulting in tens of thousands of new patents annually. The enforcement of this rule will make most existing noncompetes unenforceable, with the exception of certain senior executives, and is aimed at enhancing worker freedom and market competition. For a full understanding of the implications, the original press release from the FTC provides comprehensive insights. https://lnkd.in/eHm9kfQJ

🚀 Breaking News: FTC Bans Noncompetes! 🚀 The FTC just published a new exciting rule that will go in effect in 6 months that essentially bans companies from issuing non-competes to their employees. It will empower workers with more freedom to change jobs, start new ventures, and innovate. This move expects to create 8,500 new businesses annually and increase worker earnings. This decisive action not only boosts innovation but also aims to lower healthcare costs by up to ~$200 billion over the next decade. A big win for competition and innovation! #FTC #Innovation #WorkerFreedom #NoncompeteBan #BusinessGrowth Source: https://lnkd.in/gCqNVeqk

The FTC just banned non-competes and estimates: -8500 new businesses created per year -$500+ in average wage increases -20-30k in new patents The ruling may allow executive non-competes to be enforced, but not negotiated for new agreements. It will be interesting to see if this goes to supreme court but a large employee friendly decision made today that could create tomorrow's new ventures.

Today, the Federal Trade Commission (FTC) announced a groundbreaking final rule aimed at promoting competition by eliminating noncompete agreements across the nation. This decisive action is intended to safeguard the essential right of workers to switch jobs freely, which in turn is expected to boost innovation and support the creation of new businesses. "Noncompete clauses have restricted wages, stifled innovation, and deprived the American economy of its dynamism, including the potential creation of over 8,500 new startups annually," stated FTC Chair Lina M. Khan. "By banning noncompetes, the FTC’s final rule ensures that Americans have the freedom to seek new employment, start their own businesses, or market new ideas." As the FTC's new rule on noncompetes prepares to navigate through expected legal challenges, the implications for both employers and employees are significant. While the rule will liberate many workers from existing constraints—particularly those not in senior executive roles, offering them fresh opportunities for career growth and mobility—the legal community is closely watching for shifts in the regulatory landscape. For employees grappling with the enforceability of non-compete agreements, Sinapi Law has advocated for and represented employees fighting non-compete abuse for over three decades. If you need assistance regarding the enforceability of a non-compete agreement, you can reach us at 401-739-9690 or at www.sinapilaw.com. For more information, you can read the full FTC announcement below. https://lnkd.in/g-C3FUs5 #employmentlaw #noncompete #FTC

I’ve always thought noncompetes were unenforceable so I’m happy to see them removed altogether. Good call by the Federal Trade Commission, as a lifelong entrepreneur I know that competition drives innovation, so this is good for everyone. “The FTC estimates that the final rule banning noncompetes will lead to new business formation growing by 2.7% per year, resulting in more than 8,500 additional new businesses created each year.” Knowledge workers are going to face extreme competition from AI so we need to create as many opportunities as possible in the brave new world we are rushing towards. https://lnkd.in/giATSBFf

Well this is an exciting ruling from the FTC: No more non-competes! This will certainly result in more startups, patents, and innovation in the US economy. -Only existing senior executive non-competes who represent less than 0.75% of workers - can remain in force under the FTC’s final rule -Employers are prohibited from entering into or enforcing new noncompetes with senior executives. The final rule defines senior executives as workers earning more than $151,164 annually and who are in policy-making positions. https://lnkd.in/gtJgeGqX

⛔ Non-Compete Clauses BANNED! ⛔ The Federal Trade Commission (FTC) in the USA has recently ruled that Non-Compete clauses are an unfair method of competiton and therefore decided these clauses are no longer enforcible. The FTC believe the ban will increase innovation, start ups and even lead to higher earnings across the country. The proposal was opened to public comment, where overwhelmingly more than 25,000 people out of the 26,000 that added comments did so in support of the suggested rule. Research suggests around 18% of US workers have non-competes in place, which accounts for 30 MILLION people! Check of the full article in the comments below! I would love to know what my network make of this? If you have this particular clause in your contract, and want to discuss your options - feel free to reach out and I'd happy to explore new opportunties with you! robert.makin@lignumgroup.com +44 7399 114 885 https://lnkd.in/eXbBnrwc

The Federal Trade Commission (FTC) has taken a major step towards promoting fair competition in the tech industry. The commission has voted to ban non-compete clauses, putting an end to a decade-long practice that gave tech firms excessive control over former employees' future career prospects. This move will give employees the freedom to explore new opportunities and will encourage innovation and competition in the industry. The FTC's decision is a win for tech workers who will no longer be bound by restrictive contracts that limit their career growth. #FTC #TechIndustry #NonCompeteBan https://lnkd.in/geFDeHFi

BIG NEWS! FTC Announces Rule Banning Noncompetes. This is HUGE for Salespeople and Engineers alike. This means a company can no longer sue you for leaving their company to go to a better one. Before you sign an offer letter, read it carefully! There may still be illegal verbiage. “Noncompete clauses keep wages low, suppress new ideas, and rob the American economy of dynamism, including from the more than 8,500 new startups that would be created a year once noncompetes are banned,” said FTC Chair Lina M. Khan. “The FTC’s final rule to ban noncompetes will ensure Americans have the freedom to pursue a new job, start a new business, or bring a new idea to market.” #FTC #noncompete

🚀 Exciting News in the Business and Legal Landscape! 🚀 The Federal Trade Commission (FTC) has recently issued a groundbreaking final rule that bans noncompete clauses nationwide. This transformative decision aims to enhance market competition and empower workers by safeguarding their rights to move freely between jobs. By prohibiting these restrictive clauses, the FTC estimates a surge in business innovation and a significant increase in workers' earnings. 🔗 Stay tuned for how this could reshape business practices and career mobility. #BusinessLaw #Innovation #CareerDevelopment #FTCRuling https://lnkd.in/ep5K-K8V