02/20/2023
CALL TO ACTION!!
The proposed FTC NPRM banning noncompete agreements and retroactively canceling existing agreements, will hurt the competitiveness of American businesses by restricting the intellectual property they can share with employees and contractors without risking exposure of their trade secrets.
There must be protection considerations regarding safeguards for intellectual property, trade secrets, formulas, training methods and other information to defend American business and industry.
If businesses are forced to lose their competitiveness by being unable to control their intellectual property it will become freely exchanged without restrictions.
Businesses will become susceptible to foreign competitors and smaller businesses will become prey to larger ones seeking to control and dominate free markets.
Removing protections afforded by noncompete agreements will force businesses to take costly, unnecessary legal actions to protect their properties, costing American businesses and consumers.
If businesses costs are unnecessarily increased and they are unable to succeed under the lack of protections, they will be forced to reduce jobs or even close, leading to job losses and declining economic conditions.
We must protect both American workers and American businesses with our laws and regulations and make sure we do not restrict free trade unnecessarily.
Completely removing noncompete agreements and retroactively canceling existing agreements will lead to job losses and deteriorating economic conditions.
There must be provisions to protect American Jobs, and not swinging the pendulum too far in one direction of workers or business, extremes only serve to sacrifice the wellbeing of everyone.
The Federal Trade Commission