The FTC's proposed ban on noncompete agreements could create a world of opportunity for entrepreneurs
have found that noncompetes restrict innovation, thus discouraging new business formation. Plus, startups are"a key driver of job creation and innovation," Khan wrote in her op-ed.
, a nonprofit that advocates for policy changes to make entrepreneurship accessible to more Americans. While noncompetes are typically considered a tech-industry standard, they have infiltrated nearly every other industry, Hwang said. The terms of a noncompete clause can be broad and sweeping, stating an employee cannot work for or start a competing company for several years, or sometimes in their lifetime. Plus, many workers are either not aware that noncompete clauses were in their contracts or signed after accepting a job offer when they are less likely to object, a"There's a question of how much these contracts are enforceable, but people get scared off," Hwang said.
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