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Will noncompete agreements be banned in 2024?
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In this episode of the Thought Leaders in Law and Business podcast, presented by Hodgson Russ and The Business Journals, Jodyann Galvin, a partner with the law firm, discusses the Federal Trade Commission’s (FTC) proposed rule to ban certain types of noncompete agreements across the nation and the likelihood it will become law in 2024.
“One in five employees has either a current noncompete obligation or has had one in the past, and many employees don't really understand what the contours of that obligation are,” Galvin said. “What the FTC concluded was noncompetes generally are bad for business, they're bad for innovation and they're bad for employees being able to move around in the fields they have chosen.”
The opinions about this hot topic vary widely and many commentators are questioning whether the FTC has the authority to be involved in a state matter, according to Galvin.
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This podcast does not provide legal advice.
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