- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2024-05-14T19:33:00
Staff at the Federal Trade Commission (FTC) offered several steps businesses can take to comply with the agency’s upcoming ban on employee noncompete clauses.
The rule, approved by the FTC in a 3-2 vote in April, is expected to take effect Sept. 4. It will prohibit most employers from enforcing noncompete clauses and requiring workers to sign them.
The rule will free an estimated 30 million employees from noncompete agreements, which are legal contracts that prohibit workers from working for another employer in the same field for a certain length of time. The FTC described noncompete contracts as anti-competitive and in violation of Section 5 of the Federal Trade Commission Act.
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A federal judge struck down the ban on noncompete clauses by the Federal Trade Commission that was set to take effect in September.
Companies would be wise to prepare to comply with the Federal Trade Commission’s rule to ban noncompete clauses, despite legal challenges that might delay or prevent it taking effect altogether.
Tens of millions of noncompete clauses included in employee contracts nationwide will be null and void by about Labor Day under a final rule issued by the Federal Trade Commission.
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