In a vote that has been highly anticipated by American workers--and not so much by American corporations, the Federal Trade Commission has voted in favor of abolishing a popular but widely scrutinized term of many employment agreements.

Have you ever heard of the term 'non-compete'? Perhaps you've signed employment agreements that include this or maybe you have in the past and had no idea what that meant until you shopped around for a new job.

For the American worker that has a non-compete clause, this usually means that if they are to leave their company by will or by termination, there is a period of time in which they cannot go work for another competing company. These can get really into the weeds--as these employment agreements often tend to define a long list of what they consider to be 'competitors'.

They are commonly found in employment agreements for folks in the media--and if you're a Television Anchor, for example, the company may say that you need to 'sit out' of working in television for a year and then list other industries, such as radio, podcasting, news writing, and more that you may also not make a living from. You can often find rules about a certain distance from the current employer included--such as: you may not work for a competing employer that is 100-miles from your current company.

Non-compete agreements are found in all sorts of industries.

After years of discussion, the Federal Trade Commission, just today, voted 3-2 in favor of abolishing these agreements, effectively making any standing non-competes null and void and making any future non-competes illegal--with the exception of some for 'senior ranking officials'. The agency says that this change will create more jobs, more businesses, raise wages, and boost innovation.

According to major news outlets, the ruling will need about 180-days to be sorted out and take effect. Expect lawsuits from major corporations to ties things up in court, as well.

Learn more from the FTC, HERE.


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