Category: Employees and Consultants
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Why Giving Your Employees Phantom Stock Can Boost Your Company
The problem of motivating and retaining key employees without giving away your company’s equity can be solved by the use of a phantom stock plan. Many company owners are hesitant to provide key employees with an actual company ownership interest. Such an ownership interest would likely entitle key employees to notice, inspection, and voting rights.…
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When to Use an Anti-raiding Provision
As an employer, you make countless investments in your employees. Whether your employees realize it or not, you commit major financial resources, time and training to make your staff a company asset. How do you protect your asset from being looted by a former employee? Consider adding an “anti-raiding” clause to your employment agreements.
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Drug Testing Your Employees
According to the United States Department of Labor, reasons employers implement drug testing are to: Deter employees from abusing drugs and alcohol; Prevent hiring individuals who use illegal drugs; Provide early identification and referral of employees who have drug and/or alcohol problems; Provide a safe workplace for other employees; Ensure general public safety and instill…
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Draft a Complete Employment Contract
If you’re hiring an employee early—especially your first few non-founders—the practical answer is: you don’t need a 20-page “complete employment contract,” but you do need a clean offer letter plus a small set of attached policies and invention/IP paperwork that hold up in a financing or an acquisition. The biggest misconception is that “more pages…