On July 8, 2021, President Biden announced that he would issue an Executive Order (EO) calling on the Federal Trade Commission (FTC) to adopt rules curtailing the use of non-compete agreements. While the announcement offers few details so far, questions remain about the FTC’s legal authority to regulate non-competes in the manner sought by President Biden.
Tag: trade secrets
In reaction to the recent proliferation of non-compete agreements, courts and legislatures are increasingly trying to find ways to limit their use. The latest attempt is at the federal congressional level. This week, Florida Senator Marco Rubio introduced the “Freedom to Compete Act” aimed at prohibiting non-compete agreements for lower wage workers. The Act would amend the Fair Labor Standards Act to ban non-competes for most non-exempt workers.