Comments on: Employee Contracts: Preventing Problems Down the Road http://smallbiztrends.com/2009/04/employee-contracts-preventing-problems.html Exploring the trends driving small business Fri, 10 Feb 2012 04:39:28 +0000 hourly 1 http://wordpress.org/?v= By: Employment Contracts for Your Small Business Employees | best-on-the-net.com Blogs http://smallbiztrends.com/2009/04/employee-contracts-preventing-problems.html#comment-774089 Employment Contracts for Your Small Business Employees | best-on-the-net.com Blogs Mon, 19 Jul 2010 18:10:03 +0000 http://smallbiztrends.com/?p=12296#comment-774089 [...] Contracts - Encyclopedia of Limited BusinessEmployee Contracts: Preventing Problems Down the Road, by Diane Helbig – Small Business TrendsKey Contracts for Small Business - All [...] [...] Contracts – Encyclopedia of Limited BusinessEmployee Contracts: Preventing Problems Down the Road, by Diane Helbig – Small Business TrendsKey Contracts for Small Business – All [...]

]]> By: Employee Contracts: Preventing Problems Down the Road http://smallbiztrends.com/2009/04/employee-contracts-preventing-problems.html#comment-659020 Employee Contracts: Preventing Problems Down the Road Wed, 13 May 2009 11:54:47 +0000 http://smallbiztrends.com/?p=12296#comment-659020 [...] Click here to read more… [...] [...] Click here to read more… [...]

]]> By: GearboxGraphics http://smallbiztrends.com/2009/04/employee-contracts-preventing-problems.html#comment-657954 GearboxGraphics Mon, 20 Apr 2009 14:21:51 +0000 http://smallbiztrends.com/?p=12296#comment-657954 Great article, certainly helpful in making sure the bases are covered when it comes to employees. Great article, certainly helpful in making sure the bases are covered when it comes to employees.

]]> By: bizsugar.com http://smallbiztrends.com/2009/04/employee-contracts-preventing-problems.html#comment-657721 bizsugar.com Tue, 14 Apr 2009 15:59:51 +0000 http://smallbiztrends.com/?p=12296#comment-657721 <strong>Employee Contracts: Preventing Problems Down the Road...</strong> It's great to be trusting. However, your responsibility to your company, your staff, your clients, and yourself is to be sure you've done what you can to protect what you've worked so hard to achieve. Being a business owner means being realistic and ... Employee Contracts: Preventing Problems Down the Road…

It’s great to be trusting. However, your responsibility to your company, your staff, your clients, and yourself is to be sure you’ve done what you can to protect what you’ve worked so hard to achieve.

Being a business owner means being realistic and …

]]> By: Business Plan Writer / Consultant http://smallbiztrends.com/2009/04/employee-contracts-preventing-problems.html#comment-657552 Business Plan Writer / Consultant Thu, 09 Apr 2009 22:07:06 +0000 http://smallbiztrends.com/?p=12296#comment-657552 Thank you, I was just getting started on a handbook. This has been a lot of help. Thank you, I was just getting started on a handbook. This has been a lot of help.

]]> By: Anita Campbell http://smallbiztrends.com/2009/04/employee-contracts-preventing-problems.html#comment-657548 Anita Campbell Thu, 09 Apr 2009 21:04:39 +0000 http://smallbiztrends.com/?p=12296#comment-657548 Back in the day, when I was Head of HR in the corporate world (one of my many hats), I used to participate in due diligence for potential acquisitions of smaller companies. Key points we looked at were: (1) the existence of an employee handbook and any employment offer letters/agreements, and what they said; (2) whether employees signed assignment of patents and other agreements to protect the business's intellectual property upon coming on board; and (3) the existence of outstanding claims by employees against the employer. If these items did not pass muster, it required holdbacks (or effectively lowered the purchase price we paid for the business). In extreme cases where we learned that the business was a big mess (employment issues often being one of several areas) we nixed the deal altogether. What I am saying is that contracts with employees can actually <strong>increase</strong> the value of your business in the marketplace. Lack of them can be deal-breakers. Back in the day, when I was Head of HR in the corporate world (one of my many hats), I used to participate in due diligence for potential acquisitions of smaller companies.

Key points we looked at were:

(1) the existence of an employee handbook and any employment offer letters/agreements, and what they said;

(2) whether employees signed assignment of patents and other agreements to protect the business’s intellectual property upon coming on board; and

(3) the existence of outstanding claims by employees against the employer.

If these items did not pass muster, it required holdbacks (or effectively lowered the purchase price we paid for the business). In extreme cases where we learned that the business was a big mess (employment issues often being one of several areas) we nixed the deal altogether.

What I am saying is that contracts with employees can actually increase the value of your business in the marketplace. Lack of them can be deal-breakers.

]]> By: Diane Helbig http://smallbiztrends.com/2009/04/employee-contracts-preventing-problems.html#comment-657546 Diane Helbig Thu, 09 Apr 2009 20:58:17 +0000 http://smallbiztrends.com/?p=12296#comment-657546 Michelle, thank you so much for your comment. You are so right! An employee contract is only as good as it covers the items that matter to your company. Make sure your bags are covered! Martin, I did not know that there was a difference between us and europe on this subject. I'd love to hear more about that! Michelle, thank you so much for your comment. You are so right! An employee contract is only as good as it covers the items that matter to your company. Make sure your bags are covered!

Martin, I did not know that there was a difference between us and europe on this subject. I’d love to hear more about that!

]]> By: Michelle Bomberger http://smallbiztrends.com/2009/04/employee-contracts-preventing-problems.html#comment-657545 Michelle Bomberger Thu, 09 Apr 2009 20:18:00 +0000 http://smallbiztrends.com/?p=12296#comment-657545 Love this! It's so important for businesses to think about the opportunities and risks of employment relationships and nail down the important terms! One addition: online contracts such as those on NOLO are a great starting point but very likely aren't customized enough to really ensure the company's interests are protected. Start wit that but have a lawyer add his or her two cents to ensure it REALLY does what the business needs it to do! Thanks for reminding people of how important this is! Michelle Hayden Bomberger - JD, MBA Attorney Small Business Legal Services PLLC Business experience. Legal counsel. Bottom line results. 800 Bellevue Way NE, Suite 400 Bellevue, WA 98004 t 425-646-2360 c 425-503-2578 f 866-278-9862 e michelle@sblslaw.com http://twitter.com/MichelBomberger Love this! It’s so important for businesses to think about the opportunities and risks of employment relationships and nail down the important terms! One addition: online contracts such as those on NOLO are a great starting point but very likely aren’t customized enough to really ensure the company’s interests are protected. Start wit that but have a lawyer add his or her two cents to ensure it REALLY does what the business needs it to do!

Thanks for reminding people of how important this is!

Michelle Hayden Bomberger – JD, MBA
Attorney

Small Business Legal Services PLLC
Business experience. Legal counsel. Bottom line results.

800 Bellevue Way NE, Suite 400
Bellevue, WA 98004
t 425-646-2360
c 425-503-2578
f 866-278-9862
e michelle@sblslaw.com http://twitter.com/MichelBomberger

]]> By: Martin Lindeskog http://smallbiztrends.com/2009/04/employee-contracts-preventing-problems.html#comment-657536 Martin Lindeskog Thu, 09 Apr 2009 16:02:25 +0000 http://smallbiztrends.com/?p=12296#comment-657536 Diane, I see differences between employee handbooks in Europe and USA. Do you know about companies that have minimized the amount of rules in their handbook and made it easy to follow it? The "rule of conduct" should be integrated through the whole organization and it should be compatible with the company's vision and mission statements. Again, it going back to the trader principle and it starts with the individual. Diane,

I see differences between employee handbooks in Europe and USA. Do you know about companies that have minimized the amount of rules in their handbook and made it easy to follow it? The “rule of conduct” should be integrated through the whole organization and it should be compatible with the company’s vision and mission statements. Again, it going back to the trader principle and it starts with the individual.

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