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Showing posts with the label bioscience

Three Employment Law Tips for Startups and New Business Ventures

Later today, I’ll be speaking to the next group of startups chosen to participate in the Accelerator for Biosciences in Connecticut, or ABCT.  ABCT is a Branford-based program spearheaded by Design Technologies LLC, which supports Connecticut’s aim of being a bioscience hub. It’s an exciting time for new businesses in Connecticut like those chosen to participate in the program. But employment law issues are often an after-thought for startups.  They shouldn’t be. I’ll be talking in more detail to the startups in my presentation but here are three things I’ll be talking about for startups and new business ventures: Startups should document the relationships with new employees.  Offer letters or, in some instances, contracts should be set up so that new employees know the terms and conditions of their employment.  Even more important, the documentation should detail all forms of compensation — whether salary, bonus, equity etc....