Are Noncompetes Really Dead?
When the Federal Trade Commission’s recent ruling takes effect in September, noncompete agreements will be over. Or will they? Cornell Law School professor Stewart J. Schwab and host Chris Wofford discuss the history of noncompetes and why the FTC might not have the final say.
An episode of the Cornell Keynotes podcast, hosted by Stewart J. Schwab, Chris Wofford, titled "Are Noncompetes Really Dead?" was published on May 21, 2024 and runs 26 minutes.
May 21, 2024 ·26m · Cornell Keynotes
Summary
When the Federal Trade Commission’s recent ruling takes effect in September, noncompete agreements will be over. Or will they? Cornell Law School professor Stewart J. Schwab and host Chris Wofford discuss the history of noncompetes and why the FTC might not have the final say.
Episode Description
The Federal Trade Commission (FTC) estimates that one in five American employees are bound by noncompete agreements that impose time or location restrictions on their ability to pursue work with or create competitor companies. In April, the FTC issued a rule banning noncompetes with the intent to “generate over 8,500 new businesses each year, raise worker wages, lower health care costs and boost innovation.”
Will a court issue an injunction against the rule? Does the FTC even have the power to make the call on noncompetes?
In this episode of the Cornell Keynotes podcast from eCornell, Stewart J. Schwab, the Jonathan and Ruby Zhu Professor of Law at Cornell Law School, joins host Chris Wofford to discuss these issues. The conversation covers:
- Schwab’s approach to teaching noncompete agreements
- Employee duty of loyalty
- Purposes of noncompete agreements for employers
- Infamous noncompetes at Jimmy John’s and Amazon
- Applications of antitrust law in the labor market
- Organized labor and workers’ rights
- Non-disclosure, non-solicitation and training reimbursement agreements
- Potential for injunctions and decisions from Congress and the Supreme Court
Read about the FTC’s final rule on noncompetes.
Explore employee duties, including noncompetes, wage and benefit regulations, anti-discrimination principles and more in Stewart J. Schwab’s Employment Law for Leaders online certificate program from eCornell.
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