Ordinary Employees Do Not Have a Fiduciary Duty And, Unless

question 118

True/False

Ordinary employees do not have a fiduciary duty and, unless there is a valid restrictive covenant in their employment contract preventing them from doing so, they are free to compete with their former employer as soon as they leave.

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Definitions:

Value And Exchange

The principle that the worth of goods and services is determined through the process of trading them in markets, where their value is influenced by supply and demand.

Objective Value

The perceived worth of a good or service based on its ability to fulfill a need or want, as opposed to subjective personal preferences.

Opportunity Cost

The cost of foregone alternatives, representing the benefits that could have been received by choosing the next best alternative.

Subjective Values

The personal importance or worth that an individual places on a good or service, which can vary greatly between people.