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Restraints of Trade (Part 1): Introduction to Restraints of Trade
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Key Insights
Restraints are used to protect business interests. The episode introduces the role restraints can play in protecting a business in employment and commercial contexts. Understanding the purpose of the restraint is an important starting point before considering whether it can be relied on.
Different contexts create different restraint issues. A restraint in an employment context may raise different practical issues from a restraint in a commercial context. The type of relationship, the protection being sought and the wording of the restraint all matter.
A breach can quickly become a dispute. When a restraint is breached, the issue can move quickly from contract wording to practical consequences. Businesses and individuals should understand what the restraint says, what conduct is restricted and what may happen if the restraint is breached.
Restraints of trade can play an important role in protecting business interests, but they need to be understood before they are relied on.
In Part 1 of this Explain That series on restraints of trade, Andrew Henshaw is joined by Katherine Stewart to introduce how restraints operate in employment and commercial contexts, the types of protections they can offer, and what can happen if a restraint is breached.
The discussion covers:
- the role of restraints of trade in protecting business interests;
- different types of restraints in employment and commercial contexts;
- the protections restraints can offer;
- general restraint principles;
- what parties should understand before relying on a restraint; and
- what can happen if there is a breach.
This episode lays the groundwork for the rest of the series by explaining why restraints are used, how they can operate, and why businesses, employees and commercial parties should understand their position before a dispute arises.
A practical introduction for employers, employees, business owners and advisers dealing with employment restraints, commercial restraints or potential restraint issues.
For advice on restraint clauses, employment contracts, commercial agreements or restraint disputes, contact Velocity Legal.
This podcast in no way constitutes legal advice. It is general in nature and is the opinion of the author only. You should seek legal advice tailored to your individual circumstances before acting on anything related to this podcast.
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