US Regulator Bans Non-compete Agreements | Vantage with Palki Sharma

US Regulator Bans Non-compete Agreements | Vantage with Palki Sharma

The US Federal Trade Commission has banned non-compete agreements than curb workers from joining rival companies or setting up firms in the same industry. Workers have long criticised such contracts, claiming they infringe on a person's right to work, but US businesses are planning to take legal action against the regulator. The FTC estimated that banning non-competes would increase wages by more than $500 per year. It would also result in the creation of 8,500 start-ups every year. If the economic potential is so obvious, why do businesses insist on making employees sign non-competes? What do the rules in India say? Palki Sharma tells you.

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USA | Federal Trade Commission | US Regulator | Workers | Non-compete Agreements | Firstpost | World News | News Live | Vantage | Palki Sharma | News

#usa #ftc #workers #regulatorybodies #firstpost #vantageonfirstpost #palkisharma #worldnews

Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.

The show is anchored by Palki Sharma, Managing Editor, Firstpost.

By breaking stereotypes, Vantage aims to challenge conventional wisdom and present an alternative view on global affairs, defying the norm and opening the door to new perspectives. The show goes beyond the headlines to uncover the hidden stories – making Vantage a destination for thought-provoking ideas.

Vantage airs Monday to Friday at 9 PM IST on Firstpost across all leading platforms.
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[Entertainment-sqwx]

Palki is talking from her pain, what WION did to her when she joined Firstpost. 😢. I am happy things worked out for you...

You are a star. And you will shine wherever you go. I added WION to TV package in Sundirect so that I can watch your Reports. 😅 Now they removed it after you left. Now here I am.. Thank you for everything you do. 🙏❤🙌 . Studying each case thoroughly and presenting unbiased. 😊

[PrinceIndiaGaming]

Good job by FTC, There should not be any Non Compete. Companies exploit this.

[ramonacosta]

Noncompetes are BS, though I doubt this ruling will withstand a court challenge. Congress really needs to address this.

[anilprasanna]

Thank you America for keeping the country pro employee and not allow commission eating employers to exploit. This will stop lot of Andhra consultancies/staffing firms from harassing techies in the USA. This should also send a warning bell to chronic capitalist Narayan Murthy who has a stupid rule that even after serving notice period we cannot join Wipro, TCS, CTS, HCL for a period of 6 months. Bad days incoming for such insecure CEO or just a glorified commission agent. Notice period in India is 3 months which is ridiculous.

[santanuchatterjee]

Good work. A lot of workers would be benefited.
This should get started in India too - but that’s not happening here for obvious reasons.

[ramram-hixp]

this is what Americans call freedom and democracy.

[theawesomeman]

I usually don't agree with the FTC but I totally agree and support their position on banning non-compete agreements.

[davetorcan]

In Canada this was banned a while ago.

[raghuveerdendukuri]

Non-compete agreements cannot be enforced in a scenario when someone leaves a job and joins another company, as it is affecting livelihood and survival.

In India also, there are many companies who make employees sign non-compete agreements too, but if they will enforce depends on subjective company and subjected employee both

[arungore]

Non-compete has never worked or enforced regardless of this regulation.

[TheMrgoodmanners]

Given how they're firing people left ryt and center its inconceivable to even consider that non competes are a thing.

[ericeandco]

Non competes and “ moonlighting “ clauses need to be banned completely. Companies have abused them for far too long.

[HolloMatlala]

In South Africa we have an IP Act:2008 ....That frankly, a lot of people are disillusioned that they own their IP and thinking year' s after they moved onto new JOBS....The key is not scare them from leaving or fear them into silence....But to "own" their thinking and work even in their next Job

Intellectual Property Rights from Publicly Financed Research and Development Act, 2008 (Act No. 51 of 2008), South Africa

[elnaramuradova]

Noncompete is affecting doctors significantly, limiting their work opportunities where there is already a physician shortage. It works for corporate companies that can impose unrealistic noncompetes, that can sometimes restrict access of a doctor to entire town/city, therefore forcing them to work there or relocate!

[elle]

In India it's called no poaching agreement and I don't think it's legal. But BPMs and IT companies do it nevertheless.

[ravichandranj]

Indian IT companies have non compete for periods upto a year depending on position.

[shankarsivan]

Palki Sharma did have Non-compete issue with Zee right when she left WION.

[yash]

> _"the problem is a lot of workers do not know this, esp freshers"_

i didnt know either. in fact i was thinking this ban on n-c should come here too. glad its already here (:

[saathvikam]

There is a company in bangalore I worked, starts with gir name. It has 6 months notice period and while reliving it shown a list of more than 64 companies list that I shouldnt work. It says they are competitors. But I know my experience at that time is just a manual tester. OMG, 64 companies, every company in IT now a days moving to Cloud, and similar technologies. And these 64 companies are not doing alone EMV products, then why am being restricted.
#Modiji please ban such agreements in India too. Please

[yash]

3:45 _"if they do, its not a secret anymore"_

oh lolol