Thinking about the legal aspects of starting your new business may not be as much fun as choosing the company name or working out goals for the first year of operation. Still, you should get the ball rolling on a few important legal agreements.
Non-disclosure agreements to protect your products or ideas
Perhaps you formed your new company around a unique product or set of ideas. This is confidential information you do not want the world to know about. However, you can share the information on a need-to-know basis with people who will sign a non-disclosure agreement. An NDA obligates signers not to disclose the information unless you specifically allow them to do so.
Confidentiality agreements for employees
Every employee you hire for the new company should sign a confidentiality agreement. This obligates employees to keep proprietary information confidential, both during employment and after they leave the company. A signed agreement also can ensure that any ideas, inventions, products or services an employee develops that are related to the business belong to the company, not the employee.
By putting together suitable agreements from the start, you can concentrate on building your business without worrying about later legal complications.