On December 23, 2023, Gov. Kathy Hochul vetoed the New York State Legislature's proposed ban on all new non-compete agreements.When it's time to sell your company, you'll face a sale of business Non-Compete Agreement form. Find out what it is and how to handle it. Under Maryland law, covenants not to compete are enforceable only if they are reasonable in duration, geographic scope, and type of activities restricted. The federal government has sought to prohibit noncompetition clauses (noncompetes) in independent contractor and employment agreements. Non-compete agreements, also referred to as Restrictive Covenants, are often contained within employment contracts. The FTC's ban on noncompetes may provide advisors with increased flexibility to move amongst firms within the financial advice industry. The Rule that would ban most noncompete agreements nationwide was published on May 7, 2024, and goes into effect on September 4, 2024. Non-Compete Agreements.