I wonder if any of you can help me with an interesting question presented to me today.
I'm working with a company who are pretty unique in their line of work. They are expending rapidly and are concerned about confidentiality as their competitors would be very interested in how they operate.
I'm reviewing their contracts and the MD wants to add a value (pretty high) to the restrictive covenant which states the employee cannot divulge information to another company. Therefore if the employee leaves and takes information to a competitor they can by pursued for the sum. The reason behind this thought is loss of information would put the competitor at a significant advantage and could damage the company profit margin.
Has anyone got experience of implementing contracts with a clause of this type or know if its possible to do?
Thanks in advance