; Employee; employer The terms employ , employee , and employer have the meanings given such terms in section 3 of such Act ( 29 U.S.C. 203 ). (6) Noncompete agreement The term noncompete agreement means an agreement, entered into after the date of enactment of this Act between a person and an individual performing work for the person, that restricts such individual, after the working relationship between the person and individual terminates, from performing— (A) any work for another person for a specified period of time; (B) any work in a specified geographical area; or (C) any work for another person that is similar to such individual's work for the person that is a party to such agreement. (7) Owner of a business entity The term owner of a business entity means— (A) in the case of a business entity that is a partnership (including a limited partnership or a limited liability partnership), any partner; (B) in the case of a business entity that is a limited liability company (including a series of a limited liability company formed under the laws of a jurisdiction that recognizes such a series), any member of such company; or (C) in the case of a business entity that is a corporation, a capital stockholder of the business entity who owns not less than 5 percent of the capital stock. (8) Ownership interest The term ownership interest means— (A) in the case of a business entity that is a partnership (including a limited partnership or a limited liability partnership), a partnership interest; (B) in the case of a business entity that is a limited liability company (including a series of a limited liability company formed under the laws of a jurisdiction that recognizes such a series), a membership interest