New FTC Rule Voids Most Noncompete Clauses: A Paradigm Shift for Employment Contracts
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On April 23, 2024, in a 3-2 vote, the U.S. Federal Trade Commission (FTC), issued a landmark new rule prohibiting most noncompete clauses in employment contracts in an attempt to improve labor mobility and competition. The rule was proposed in January 2024 and subject to a 90-day public comment period, which drew more than 26,000 […]