Since most applicants will be currently working somewhere, and many may wish to prove their skills and talent in businesses which compete with their existing employers, they should be careful regarding what they share during the business planning process in order to prove their skills and talent. Applicants should remember that the business planning process is to prove skills and talent and not to extract information. It is a process of understanding capabilities applicants have, which will be determined by the process.
Suppose, in order to assess capabilities, an applicant were to be asked during an interview as to what will you do or make the company do after you join? What should an applicant answer during such an interview? Only such information should be shared during the business planning process. These days multiple rounds of interviews take place in corporate world which can easily go up to 4-5 hours of interview time and even more. What information would you have shared as a potential CEO or a potential leadership professional during such 4-5 hours of interview time? Only such information should be shared during the business planning process. The only difference is here you get time to think and time to gain skills outside the company you work for through your own ethical means.
Applicants need to follow the highest ethical standards during the application process. They should:
Not share customer/client details of their existing companies (e.g. points of client contacts, phone numbers of clients, database of customers etc)
Not share trade secrets, if any, of their existing companies (e.g. formula to make Coca Cola is a trade secret)
Not share any information which they feel violates ethical standards
Not access any of their employer resources or take any actions during their daily office work at their current employer for the purpose of extracting information for selfish gains.
Should immediately delete such information if input by mistake during business planning and also inform Return40 to delete such information in case there are any backups stored.
However, applicants should also be aware of their rights. Indian Contract Act 1872, which is still valid to this date says
“Every agreement by which any one is restrained from exercising a lawful profession, trade or business of any kind, is to that extent void.”
Any clauses which are put in by companies in employment contracts are considered void (invalid) if they go against the above law. Example: Post employment non-compete clauses put in by companies are usually considered invalid in India by courts.
Also, any other clauses in your employment contract which you feel obstruct you from applying with Return40 may be invalid as per above law. However, you should take professional legal advice regarding the same.
Also, no part of this website should be interpreted as a solicitation of investment by any investor.