Washington - Business Roundtable CEO Joshua Bolten today issued the following statement after the organization filed a lawsuit challenging the final U.S. Federal Trade Commission (FTC) “Non-Compete Clause Rule”:
“Business Roundtable strongly opposes the FTC’s final rule banning virtually all noncompete agreements. The FTC’s categorical prohibition on noncompete agreements is misguided and far beyond the agency’s statutory authority.
“When appropriately used, reasonable noncompete agreements protect essential investments in employees, R&D and innovation. By banning most noncompete agreements, the FTC’s rule will disincentivize investments in workers and make it harder for companies to compete globally.
“Business Roundtable is confident this unwarranted regulatory overreach will be overturned by the courts.”