Fortune April 24, 2024
Monday’s FTC announcement to implement a nationwide, retroactive ban on the enforcement of employee noncompete agreements promises to improve wages, career prospects, and innovation. Given that a legal challenge has already been filed in objection to the agency’s authority to do so, it is important to understand additional—if underappreciated—improvements that would arise should the ruling move forward.
Entrepreneurship fuels job creation, innovation, and wealth—but women are sharply underrepresented among startup founders. Less than 20% of venture-capital-backed companies have even one woman on the founding team. The gender gap in entrepreneurship is persistent and problematic, and noncompetes widen that gap. This may seem unexpected, as neither noncompete contracts nor laws say anything about gender. But noncompetes make entrepreneurship more costly, more...
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