[jeffbr13]

IP's the more specific case here. The company both owns and is responsible for anything an employee does during the course of their employment: https://en.wikipedia.org/wiki/Course_of_employment

[leggomylibro]

So if you work for a bank and commit serious wire fraud on your own time, can you be sued for breach of contract, conflict of interest, etc? You'd have a lot of experience in doing so from your normal employment.