Co-Founder Insists On Employment Contract
July 31, 2012 7:15 AM Subscribe
There are three of us who are starting a business next year and one of my future co-founders is insisting that everyone signs an employment contract stipulating that we stay at the company for at least three years. Contract violations haven't been discussed yet - the contract hasn't been written yet - but a hefty fine is likely. Is this type of contract common between co-founders? What other risks should I be aware of before/if signing this?
posted by anonymous to law & government (24 answers total)
Also, I've already signed a nonsense NDA that prevents me from discussing "the details communicated during the meeting at [DATE]" where details = the most generic business talk imaginable. This contract business just adds to the bizarro pseudo legal games, distrust and weirdness that I'm experiencing.