IPA: /nɒnˌkɒmpəˈtɪʃən/
KK: /nɑnˌkɑmpəˈtɪʃən/
Relating to an agreement where one party agrees not to compete with another party.
The company signed a noncompetition agreement to protect its business interests.
Noncompetition → It is formed from "non-" (meaning not) and "competition" (from Latin "competitio", meaning striving together). The word "noncompetition" refers to the absence of striving together or rivalry in a particular context.
Think of 'not' ('non-') being combined with 'striving together' ('competitio') to remember that 'noncompetition' means there is no rivalry or competition.