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[return to "New York may ban noncompete employment agreements and Wall Street is not happy"]
1. GuB-42+lv[view] [source] 2023-11-18 12:31:22
>>pg_123+(OP)
The article doesn't address what I think is the most important aspect of noncompete agreements: compensation.

In France, and I believe in many other places as well, you can't have a noncompete without proper compensation. Compensation is relative to how it will affect the former employee career, it is usually less than a full wage, but it can be that if it makes finding a new job particularly difficult.

There have been a trend at one time of bullshit noncompete clauses that were too broad and didn't come with compensation, these are not enforceable. If they tried to sue the employee (they don't), they would be laughed off by the judge.

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2. bradle+1A[view] [source] 2023-11-18 13:07:44
>>GuB-42+lv
This is a problem in the tech industry but not on Wall Street.

The norm there is paid time off between jobs (“gardening leave”). Everyone knows it is part of the system and that a mid level or senior hire can’t start right away. They also buy out still vesting bonuses and the like.

It’s quite a civilized system and I think the law ought to leave it alone, while addressing abusive ones like we have in tech.

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3. Spivak+qE[view] [source] 2023-11-18 13:32:35
>>bradle+1A
Surely anyone looking at such a system from the outside sees the economic inefficiency for nebulous gain. Why not do away with it and let them start right away?
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4. bradle+3I[view] [source] 2023-11-18 13:53:22
>>Spivak+qE
If it ain’t broke, why are you trying to fix it?
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