FTC bans most non-compete

[mlblack16.]

Anyone ever worked for an organization that forced you to sign a non-compete?

I know Greed tried to have all his workers sign one, but then his business went belly up, so not sure if they were still obligated to comply.


Banning non-compete clauses

 

[big_country90]

Banks do, at least at a certain level. The language in our stock awards states that there is a non-compete, but the stock is also on a 4 year vesting period so I would lose those 4 years of stock, anyway, if I ever left and went elsewhere. Not sure what there is to enforce at that point.

 

[Rock98Dog]

Non competes have been near impossible to enforce for years. I beat both Huntington Banks and Fifth Third on those. It’s the non solicit you have to be aware of and document. Those are very enforceable, but hard to prove if you document your actions well. Non solicits are why I never had a bank issued phone and always paid for my own instead of taking a free one. Owning your cell number is about the most valuable thing for someone in sales. Allows your former customers to reach you without having to reach out to them.

 

[herdfan06]

Even Mark Hurd was able to get out of his after he was fired for submitting inaccurate expense reports and porking a well paid consultant.