With home repairs, there is risk in DIY. Similarly, employment agreements require the input of an expert. If you’re not an employment lawyer, don’t try this (i.e. drafting or revising an employment agreement) at home.
Employers who fail to incorporate a binding termination clause into their written employment agreements may face significant, and unexpected, liability for severance. This lesson was learned the hard way by Qualified Metal Fabricators (“QML”) in a recent case out of Toronto.
For true entrepreneurs, there is nothing more exhilarating and satisfying than launching your own baby into the economy, nurturing it, and watching it flourish with co-founders, friends, employees and supporters along the way. Satisfying, that is, until your co-founder starts to slack, develop a different vision, or simply become an energy suck that is destroying the business. Once the honeymoon start-up phase is over, founders either thrive in the get-down-to-business phase, or get itchy for the next creative start up adventure. Here are some big-picture tips for handling the post-honeymoon phase.