General rule: Directors and Officers can leave a corporation and subsequently do competing business.
The common law protects the right to apply one’s skills and pursue professions
** you have the right to put your skills to the best possible use
The general rule is subject to exceptions:
** 1. Competition not permissible when fiduciary relationship subsists - Re Thomson (1930)
** 2. Fiduciary cannot use opportunities acquired from position as a fiduciary to compete - Canadian Aero v O’Malley (1974)
** 3. Former fiduciary cannot compete by soliciting business from corporation
** 4. Former fiduciary cannot use confidential information for personal benefit - Pizza Pizza v Gillespie (1990)