Trenam Shareholder John Goldsmith was featured in the Tampa Bay Business Journal cover story on February 17, 2023, discussing the Federal Trade Commission’s proposed restrictions on non-competes, which could release an estimated 30 million U.S. workers from restrictive contract and have a tangible effect on recruiting efforts. The proposal, which is currently in a 60-day public comment period, is more likely than not going to receive full approval, Goldsmith suggested in the article.
“Restrictive non-competes have a chilling effect on recruitment because employees don’t always know if those contracts are enforceable,” says Goldsmith.
He added that many of his clients would generally support the restrictions because they address the hiring challenges locally and provide more clarity on what can and cannot be enforced.
While non-competes often emerge as an important issue when discussing commercial transactions, Goldsmith noted that key employees are always paid additional compensation to sign within the context of a merger or acquisition – adding, “why else would they agree to it?”
To read the full article, click here.
