Wow this is big! The end of noncompetes

[mcmurtry66]

Garden leave?

I’ve never heard that. Fantastic

 

[Noodle]

Garden leave?

That's it!

I also forgot the key aspect of how his old firm had to continue paying him while he sat and did nothing, all to keep him from competing for a year.

 

[JamieDimonsBalls]

Brittany with fake boobs at the mall, dummy.

So a bimbo with no ambition? I feel like I've seen this one somewhere...

 

[JamieDimonsBalls]

I thought you hated fake boobs?

That was me

 

[Noodle]

That's it!

I also forgot the key aspect of how his old firm had to continue paying him while he sat and did nothing, all to keep him from competing for a year.

Then again, I may be confusing two different situations.

 

[JamieDimonsBalls]

I’ve never heard that. Fantastic

Very common in banking. Lots of deferred comp is tied to maintaining a 3-12 month (not sure I've seen longer) period where you cannot compete in any fashion or approach any previous, current or prospective clients. After you sit out, it's fair game.

 

[JamieDimonsBalls]

Then again, I may be confusing two different situations.

Nope, that is quite standard with Garden Leave. They pay you to keep you on the sideline for a period of time. If they don't, I believe the enforceability diminishes.

 

[BradStevens]

So a bimbo with no ambition? I feel like I've seen this one somewhere...

Working the mall is a plum gig, dude. Lots of exposure. Food court nearby. Shopping on breaks. I thought you had a biz degree?

 

[mcmurtry66]

Very common in banking. Lots of deferred comp is tied to maintaining a 3-12 month (not sure I've seen longer) period where you cannot compete in any fashion or approach any previous, current or prospective clients. After you sit out, it's fair game.

No I meant the term

 

[Noodle]

Nope, that is quite standard with Garden Leave. They pay you to keep you on the sideline for a period of time. If they don't, I believe the enforceability diminishes.

I meant I may be confusing two different stories from several years ago. Garden leave came up in a client situation. I can't recall if the Aussie attorney was paid for the 12 month sabbatical he had to take. I'm thinking he was not, as in his case he was a partner (i.e., co-owner) at his old firm.

At a previous firm our partnership agreement had a clause that said you forfeited your interest in the firm (i.e., your share of the value of the firm) if you left and went to work for another law firm within 2-3 years. Those types of non-competes (when you sell a business) will not be affected by the FTC rulemaking.

 

[JamieDimonsBalls]

Working the mall is a plum gig, dude. Lots of exposure. Food court nearby. Shopping on breaks. I thought you had a biz degree?

This isn’t the 90s. Malls are generally depressing and if they are thriving, they are high end. Which means Brittany will be expensive.

Can I stick to Asian massages like Bob Kraft?

 

[BradStevens]

This isn’t the 90s. Malls are generally depressing and if they are thriving, they are high end. Which means Brittany will be expensive.

Can I stick to Asian massages like Bob Kraft?

Of course Brittany will be expensive. Fake boobs don't grow on trees.

Asian massages, when discovered, can be a lot more expensive than a hair cut. Ask McMurt.

 

[JamieDimonsBalls]

Of course Brittany will be expensive. Fake boobs don't grow on trees.

Asian massages, when discovered, can be a lot more expensive than a hair cut. Ask McMurt.

Meh, no interest in financing another cosmetic surgery docs extravagance.

 

[larsIU]

the Leviathan

You wanna join book club?

You get the Glen Gary leads? Those are supposed to be choice.

ABC, my friend.

A
B
C

First place - Cadillac
Second place - Steak Knives
Third Place - you're fired.

 

[Mas-sa-suta]

I think it’s more the nature of the business

I agree.

A business requiring multiple personal contacts, such as a food buyer at a hotel, has multiple vendors competing for the same piece of business. He is reliant on that sales rep. that helps him succeed. If the support for that rep. has relative parity, then that buyer will give the business to the rep. contributing to his success.
If the rep. moves to a competing vendor in-market , assuming parity of support, he could readily move that business, which could damage the original vendor in some unexpected ways.
I did not ask for non-competes from sales staff, but worked to enhance their success, and used some robust retention tools as well.

 

[Mas-sa-suta]

This new FTC rule is unlikely to take effect any time soon. Lawsuits have already been filed to stop it from going into effect. Seems like a big overreach to me, but many businesses also have been using them inappropriately. It's also a bit bizarre that the rule allows existing non-competes with senior executives to remain in place but no new ones can be entered into. I do not believe that twist was part of the proposed rulemaking.

One option for businesses to consider are non-solicitation agreements (former employee cannot solicit customers, suppliers, or employees of the former employer). And, of course, strong confidentiality agreements with all employees. Obviously, however, these measures won't work for all businesses.

Years ago I did some contract/overflow work for a law firm. They tried to include a non-compete clause in the contract they had me sign (as an independent contractor). I politely pointed out that non-competes for lawyers are prohibited by ethical rules. Technically, the firm violated ethical rules by even proposing the clause. I politely pointed out that it must have been an oversight on their part. And, of course, they agreed - merely an oversight, and it should not have been included. LOL

In contrast, a friend of mine in Australia (a lawyer) basically had to take a 12-month vacation before he could start his own firm due to a non-compete clause with his prior firm. They have a funny name for such sabbaticals in Australia but I cannot remember what it is.

'Walk About'?

 

[mcmurtry66]

I agree.

A business requiring multiple personal contacts, such as a food buyer at a hotel, has multiple vendors competing for the same piece of business. He is reliant on that sales rep. that helps him succeed. If the support for that rep. has relative parity, then that buyer will give the business to the rep. contributing to his success.
If the rep. moves to a competing vendor in-market , assuming parity of support, he could readily move that business, which could damage the original vendor in some unexpected ways.
I did not ask for non-competes from sales staff, but worked to enhance their success, and used some robust retention tools as well.

Spot on. And honestly I have not looked at ours in some time but I think the non solicitation approach noodle noted is probably better

 

[mcmurtry66]

'Walk About'?

That’s literally just traveling or going for an adventure walk. I looked it up as that’s what came to my mind.

 

[Bulk VanderHuge]

The correct term is “Sales Reptile”.

 

[Standard Issue]

And remember. You don’t style hair with clippers

Did that in Minneapolis. Wife happened to stop in to pick up some product while I was in the chair. When I got home she said "So that's why you go there." I told her that I couldn't think of any place where I could have a cute 23 year old rub her breasts around my head and shoulders without going to jail or divorce court. She's cut my hair ever since.

Addendum to the list of possibilities;
turning into you.

 

[UncleMark]

She's cut my hair ever since.

The 23 year old...... or the wife?

 

[Standard Issue]

The 23 year old...... or the wife?

The wife, the cost of the 23 year old would have astronomical.

 

[JamieDimonsBalls]

Did that in Minneapolis. Wife happened to stop in to pick up some product while I was in the chair. When I got home she said "So that's why you go there." I told her that I couldn't think of any place where I could have a cute 23 year old rub her breasts around my head and shoulders without going to jail or divorce court. She's cut my hair ever since.

Addendum to the list of possibilities;
turning into you.

I need the name of the establishment, for research purposes