The scenario plays out like a plot from a Aaron Sorkin film: You and your co-founder have just come up with your startup idea and you’ve thrown together a basic mock-up of your platform. Congratulations, you just might be the next Zuckerberg. But even the biggest players in the startup scene could have prevented huge mistakes by covering a few simple legal basics. These may include the following:
This may include the establishment of a Trust, Partnership, Joint Venture or Company.
Read here to learn more about how to choose a corporate structure that’s right for your business.
Applying for a trademark helps you to protect your brand, that of which may include your design, logo, name or colour.
Some insurance coverage which should be considered (and sometimes mandatory) include: WorkCover; professional indemnity; public liability; product liability; key person; content; and mortgage protection.
Some policies which should be considered include: Bully and Harassment; Anti-Discrimination; Drugs and Alcohol; Grievance; IT and Confidential Information; Social Media; Work Health and Safety Induction; or Code of Ethics Policy.
What are the key things I should put in my employment agreement?
Employment Contracts can vary between industry, however, I would say the most important clauses include the following:
- termination clause with notice;
- termination clause without notice due to misconduct;
- non-solicitation of clients and employees;
- restraint to operating a competitive business within a particular area, for a particular period of time;
- confidentiality clause; and
- intellectual property right clause to ensure the employee will sign all documents necessary to assign the intellectual property rights created during employment to the employer.
Unsure where to start? Contact a LawPath consultant on 1800LAWPATH to learn more about customising legal documents, obtaining a fixed-fee quote from our network of 600+ expert lawyers or to get answers to your legal questions.