Keep in mind a few notable pitfalls:
1. Not Having the Right Legal Counsel: In a misguided effort to save on expenses, start-up businesses often hire inexperienced legal counsel, including lawyers who are friends or relatives, or those who offer steep fee discounts. In doing so, the founders deny themselves the advice of experienced legal counsel who can help avoid many legal problems.
2. Not Carefully Considering Intellectual Property Issues: Both the company’s founders and its investors have a stake in ensuring that the company protects its intellectual property and avoids infringing the intellectual property rights of third parties. Another potential intellectual property issue arises when a founder starts a new company while employed elsewhere.
3. Not Coming Up with a Great Contract: Most companies should have standard form contracts for dealing with customers or clients.
5. Not Using a Good Form of Employment Agreement or Offer Letter When Hiring Employees: Companies should ensure that the employee and the company sign the letter and anyfirst-day paperwork. For a good sample employee offer letter.
6. Not Requiring All Employees to Sign a Confidentiality and Invention Assignment Agreement: Employees have access to a good deal of their company’s confidential information, which can be unbelievably valuable, especially in technology companies. One basic way to protect proprietary company information is using a confidentiality and invention assignment agreement.
7. Asking Interview Questions That Are Prohibited by Law: Asking the wrong questions could lead to a discrimination claim against the company, even if decisions are not made on that basis.
8. Not Taking the Proper Steps Prior to Firing an Employee: Terminating an employee, even an “at will” employee, entails legal risk if not properly handled and documented.
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath