Just a few days ago my partner Dan and I were discussing the Dept. of Treasury luke warm report on non-compete agreements.. and Dan asked, why are they doing this? It was a fair question. Why is Treasury spending time and money looking into the economic impact of restrictive covenants, and why be so luke warm about the findings?
Well yesterday the White House release a report on the same topic, citing the Treasury report. We are now beginning to see the purpose behind it all and I have to say, the White House report has some teeth. Some purpose, and it accurately reflects the real struggles faced by most if not all my non-compete clients. The struggle is whether to risk litigation in order to start a new business, or take a new job, or stay within an industry.
Thankfully – the White House report makes two compelling arguments against unfair and overbroad agreements – they harm the economy, and public policy.
So, here are my thoughts on the report, or you can read it yourself.
Happy Friday. And to read more, or engage with some nutty folks online, visit Vice President Biden’s facebook page where an interesting conversation is being had about the same issues: www.facebook.com/joebiden/