📣 FTC Decision Liberates Workforce
posted 25 Apr 2024
Linda Jeng, CEO of Digital Self Labs, a Web3 venture, praised the Federal Trade Commission's (FTC) prohibition of non-compete agreements that limit employees from moving to rival companies. Linda shared how this issue had personally affected her career.
She faced a lawsuit from a blockchain startup accusing her of violating her employment agreement when she chose to leave for another company. As a lawyer herself, she was ironically impeded by her former management, who refused to settle and instead pursued extensive legal action, effectively pausing her career.
Looking back, I see the irony that a blockchain startup violated the foundational principle of our innovative industry’s open-source ethos,Linda observed.
While her new employer provided substantial legal and financial backing, Linda incurred over $80,000 in lost income and savings and faced severe emotional turmoil. However, the legal framework at the time left her with no recourse at the federal or local level, as her case was technically within legal limits.
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