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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. Spooky+bH[view] [source] 2023-11-18 13:47:41
>>bradle+1A
When this legislation was originally introduced, an Albany area Jimmy Johns franchisee got attention for suing former minimum wage employees who took the secrets of sandwich assembly to a nearby Subway and local deli.

Timing was poor - during the budget season when the entire legislature was in town. The notion that a sandwich stop should be allowed to restrict the future employment is absurd on its face.

Yet there are fields where it makes sense. When I was an employee of the government, ethics laws limited my ability to leave and sell my services to the government in various ways. There are similar scenarios in other industries.

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4. wslh+7M[view] [source] 2023-11-18 14:16:57
>>Spooky+bH
> When I was an employee of the government, ethics laws limited my ability to leave and sell my services to the government in various ways. There are similar scenarios in other industries.

I think this is more about corruption control than non-compete.

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