> I get the impression most people don't read their contract.
We read them, one of two situations occurs:
1. We don't care and sign it.
2. We raise a stink about it and either they change it or we don't take the job.
My current employer had the clause because it was standard boilerplate contract, but when I expressed my concerns over it and told them I wouldn't sign with it, they amended the contract to make sure nothing in it would impede my own projects and company.
Now on my 1-on-1 my CEO often asks me how my side business is doing and gives me advice as needed about building a business.