Re:FTC Proposes Banning Noncompete Clauses for Workers
by hn_throwaway_99 on Thursday January 05, 2023 @12:22PM
(#34263170)
> Now when you hear outrage over some bank exec getting a million dollar severance, know that this can be because of a non-compete.
But, as you pointed out with your story, much of the outrage is still directed at the rank hypocrisy that goes on - companies easily try to force noncompetes with little or no compensation to low level workers, but then automatically know they need to pay execs millions for the same privilege.
Re:FTC Proposes Banning Noncompete Clauses for Workers
by xen2xen1 on Thursday January 05, 2023 @12:49PM
(#34263604)
The only time I've ever heard of a noncompete being enforced was when an IT worker bid against his employer on a contract renewal he was working on, and won. His newly former employer had sued him and won, and made him unhappy for a long time via the courts. Some things like noncompetes really exist for the worst case scenario, but is threatened in all cases.
Re:FTC Proposes Banning Noncompete Clauses for Workers
by pvarangot on Thursday January 05, 2023 @12:54PM
(#34263686)
> And this is about the only way they hold up in court
I think if your company gets bought and you get stock compensation of the company buying it, both as a founder or an employee, they can also make it hold in court.
And this is about the only way they hold up in court, otherwise the non-compete would be a one-sided contract.
IANAL, but I was once sued by a former employer over a non-compete (an entry level IT job). The judge basically swept the floor with it.
Also, it made me understand why severance packages exist, it is usually a salary compensation for the non-compete duration. Now when you hear outrage over some bank exec getting a million dollar severance, know that this can be because of a non-compete.