Going Beyond What Is Fair And Legal
Restraint of trade cases usually revolve around whether the
clause is appropriate to protect a legitimate interest of the
employer, and no broader in duration and scope than is necessary to
protect that legitimate interest.
However, well known stock brokering firm Ord Minnett recently
fell foul of restraints in a different way. It used the
confidential information of Wilson HTM, an employer of some
individuals who were angling for jobs at Ord Minnett, to try and
'lure away' even more of Wilson HTM's employees.
Background to the case
During discussions with several disenchanted Wilson employees,
Ord Minnett asked them to provide information regarding the revenue
earned by other employees of Wilson, to assist Ord Minnett in
arranging attractive packages to lure more of Wilson's
employees to transfer. The information included commission
statement sheets of other employees of Wilson. Ord Minnett ended up
with precise revenue
