My friend wants to establish a startup. He is currently working in a startup company with two year bond. Simply he wants to know whether it is ethical to work for his startup while working for the company or should he leave the company by paying the bond amount.
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Your friend should read the contract he signed with the startup he's currently working for.
In most jurisdictions, it is legal to have two jobs, but he may be covered by specific laws, or may have agreed not to.