All eyes were on Gov. Kathy Hochul last week after she announced that she would not sign Bill S3100A. If enacted, the bill would have prospectively banned all post-employment noncompetition agreements, and make New York just the fifth state in the nation to legislate such a ban.

The proposed law would have further imposed liquidated damages of up to $10,000 against employers per violation, in addition to payment of lost compensation, damages, and attorney fees. Since the State Senate and the State Assembly passed the bill in June 2023, lobbyists, legal pundits, and Wall Street all have been commenting on the expansive reach of the bill, noting in particular that it contained no exceptions for high-salaried workers or non-competes made in connection with the sale of businesses, thus raising concerns about the bill's impact to New York companies and their ability to protect against the misuse of intellectual property and unfair competition.