When starting a business, there are different steps you need to take to ensure that your business will be successful and grow. One of those steps is talking to a lawyer and ensuring that the proper legal documents are in place. In order to protect your business interests, a few documents your startup may need are:
Mutual Non-Disclosure Agreement
There are certain aspects of your business that need to remain private within your company such as business plans, financial records, client information, etc. A non-disclosure agreement is a legal document that legally binds any of the parties involved in the behind-the-scenes operations of your business, such as employees, business partners, contractors, etc., from releasing vital business information.
If your startup is going to be a LLC (limited liability company) then you’re going to need to reserve the name for the company and register the company with the Secretary of State. These documents will also describe how your business is run and who is involved in the organization and operation.
If your startup is going to be a corporation, most states require you to create company bylaws. This document details how the company will manage itself. This document should depict individual roles within the company, the framework of the company, and administrative concerns. If any issues or unforseen questions arise, the company bylaws should offer a clear guide to resolution.
Employee agreements are exactly what they sound like: agreements between the company and individual employees that set forth duties and expectations for both parties. Not every employee needs to sign an employment agreement; however, it would be beneficial to ensure that employees do not disclose confidential information or leave the company to work for a competitor.
You put too much time, money, and effort into your company to not secure your interests. Make sure that you speak with a lawyer and have the proper legal documents in place for your company. You need to have the proper foundation for your business so that you can successfully build on it.
If you own a small business or are trying to start one, call us at Gathings Law. We work with our small business clients to be sure that their needs are met on a fee structure they can afford. At Gathings Law, we’re here to help you work towards your dreams.