Tips For Entrepreneurs Protecting Their Startups
In this Biz New Orleans Daily Biz Minute, Scott Schneider offers 5 tips that every entrepreneur should do in order to protect their startup against the pitfalls that bedevil quickly growing companies.
1. Protect your intellectual properties, both from outsiders and former employees.
2. Appropriately classify your employees.
3. Have a clear understanding with partners about who is responsible for what, how partners will be compensated, and what happens if there's a falling out.
4. Obtain form agreements to cover things like business transactions and employee documents, including offer letters, non-compete agreements, invention assignment agreements, and benefit forms.
5. Ensure you have appropriate insurance, including employment liability insurance.
Click here to watch the video.