"The [Notice] cites evidence that noncompetes for the senior executives may impede the creation of new competitors, new businesses, businesses that are the life blood of this economy. And we cite evidence that noncompetes for senior executives impede the creation of new jobs and fundamentally change the competitive conditions in this company for new businesses for the worse." #noncompetesftc #noncompetes https://www.ftc.gov/system/files/ftc_gov/pdf/p201000noncompetenprm.pdf

Commissioner Bedoya emphasized that for the most senior employees, the rationale for banning noncompetes is harm to competition: "[T]he [Notice] does not assert, I repeat, does not assert that senior executives are somehow subject to coercion and exploitation. Rather, it relies on evidence in line with what was shared, which is that noncompetes for senior executives do harm competitive conditions." #noncompetesftc #noncompetes

"We think the practice results in a lot of waste in our industry; the industry suffers because experienced talent must sit out once their employment ends. That means these talented individuals have to start over in another industry.” Steve Cox of Steam Logistics at FTC forum
#noncompetesFTC #noncompetes

"Eighteen months ago we started a campaign to end noncompetes […] We’ve had 132 companies join us https://lnkd.in/gR5ZnpfM. When a company or a lobbyist tells you that they need a noncompetition agreement to protect their company, that’s absolutely false. They can protect their interest with nondisclosures, non-solicitation agreements. That covers their intellectual property, [and] recruiting their customer and employees. Steve Cox
#noncompetesFTC #noncompetes

"Imagine not being able to work in your industry because your company laid you off through no fault of your own! Many of these agreements are signed by young people who are fresh out of college, signed as a part of their employee setup packet[…] Oftentimes they’re not even allowed to take the document home and read it. Even if they did, few would be able to afford an attorney to review and explain" Steve Cox, Steam Logistics at FTC forum
#noncompetesFTC #noncompetes

"We heard today from an oncologist and a radiologist. Yes, these are sophisticated professionals. They are, I suspect, high-wage earners, but what they showed noncompetes for them was not something they negotiated. It was something imposed on them. And this is something that impacted their ability to provide health care and impact that ability to this day and that impacts their families." -- Commissioner Bedoya, FTC forum #noncompetesFTC #noncompetes

"Register to speak on a first-come-first serve basis" 👍
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RT @FTC
The event will be webcast on the FTC’s website, transcribed, posted online, and included as part of the public record. Speakers will be heard on a first-come first-serve basis during the time available. Sign up to speak here: https://www.ftc.gov/speaker-registration-non-compete-forum #noncompetesFTC
https://twitter.com/FTC/status/1621166601889349636