ensure the validity of non-compete agreements in the context of jointly owned business entities.

Summary

The bill lets parties include non‑compete provisions in a business’s governing documents or in contracts when an ownership interest is bought, sold, or transferred. It bars the former owner from working in a similar business within the same area for up to three years after the transfer. This aims to protect the business’s interests after ownership changes.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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