Here are five things to know:
1. The legislation would statutorily limit noncompetes to one year and limit the scope to the state’s borders.
2. Under the proposed legislation, employers would be required to pay an employee 100 percent of the employee’s pay and benefits for the length of the noncompete.
3. “Overly broad” noncompetes would be considered null and void, and courts would lose the ability to edit contracts to make them reasonable.
4. The legislation has been pending in the legislature for over a year, and it is “unclear whether it will gain the momentum necessary to be passed into law,” the report said.
5. New York recently passed a bill banning noncompetes, which “could influence the New Jersey Legislature with regard to its pending legislation,” according to the report.
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