Did the FTC Just Ban Noncompetes? Not So Fast.
What Happened:Yesterday, the Federal Trade Commission (FTC) sent shockwaves through the employer community with the announcement of a nationwide ban on noncompete agreements. The controversial and highly-publicized regulation was approved following a 3-2 vote of the commissioners. The rule now enters a 120-day public comment period before being effective.While the media coverage may give the impression this is a done deal, that is hardly the case. Despite the FTC's action yesterday, the ultimate fate of the noncompete agreement regulation remains in serious question. The FTC maintains that it possesses the legal authority to prohibit the use of noncompete agreements (and to ban other business practices and…