Employment
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Two new online calculators for startups
I love seeing useful online startup tools announced. Two new ones seem particularly interesting. First, a startup economics calculator from SmartAsset. Second, a calculator from Wealthfront to help determine startup option grants.
These tools may not be on all fours with Canadian experience, but who cares – any info on these topics is useful for decisionmakers.
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A reminder on how not to terminate an employee (Updated)
My friends at Stikes have an excellent post summarizing a case about the release employees are often asked to sign upon the termination of their employment. Their summary speaks for itself, but I will note that this is yet another case that demonstrates what I have often referred to in presentations as the single best risk management strategy you can use for your business: Don’t Be a Jerk.
A 63 year old man who had been with The Home Depot for 20 years was terminated with barely more than the statutory minimum notice, and was asked on the spot to sign a document releasing The Home Depot from liability. It doesn’t take a lot of thought to realize that when you treat someone this poorly, you face a significant risk of rebound (in this case, legal costs, double the notice, and bad publicity).
If you need to terminate someone’s employment, think carefully about what you ought to do to handle the situation with respect, courtesy and due regard for the employee’s dignity. The circumstances behind the termination might have you feeling frustrated, or even angry, but try to avoid letting these get the better of you. It’s the right thing to do.
Update: Professor David Doorey covers the case here.
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Links for Startups
Here are some links to useful information for startups. We add material from time to time so check back for updates.
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Form of Confidential Information, Invention Assignment and Non-Solicitation Agreement
Here is a simple form of confidential information, invention assignment and non-solicitation agreement. The form of employment agreement it’s used with is here.
Please keep in mind that these types of agreements are not generic – there are many variables, and every form of agreement is not right for every situation. As always, consider consulting a lawyer to talk through your needs and what is appropriate for you.
The document is provided in Word format. Any intellectual property that Hyndman | Law has in the form is licensed on an open basis – for any use, by anyone, without attribution.
This form is provided for educational purposes only. Your use of it does not create a lawyer-client relationship with us, and we assume no responsibility for any consequence of using this document.
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Form of Employment Agreement
Here is a simple form of employment agreement for use in a startup context. The confidentiality and invention agreement referred to in it is here.
Please keep in mind that employment agreements are not generic – there are many variables, and every form of agreement is not right for every situation. As always, consider consulting a lawyer to talk through your needs and what is appropriate for you.
The document is provided in Word format. Any intellectual property that Hyndman | Law has in the form is licensed on an open basis – for any use, by anyone, without attribution.
This form is provided for educational purposes only. Your use of it does not create a lawyer-client relationship with us, and we assume no responsibility for any consequence of using this document.
