Six Things Startups Need to Know About Hiring and Firing Employees and Advisors
Attorneys from WilmerHale's Emerging Company and Venture Capital Practice will explore the most critical issues facing entrepreneurs and early-stage companies during our QuickLaunch University Webinar Series. Over the next several months, we will share key takeaways from each webinar. In July, we took a look at hiring and firing your first employees and advisors.
On July 20, WilmerHale Partners Josh Fox and Laura Schneider and Counsel Ariella Feingold explored common employment law issues and what you can do now to minimize the risk of expensive legal headaches down the road. They shared six things that need to know about hiring your first employees and letting them go when necessary:
- Abide by all legal obligations in interviewing and considering candidates, including non-discrimination and immigration obligations
- Hire individuals as employees, not contractors (except in rare cases)
- Be mindful of (and abide by) minimum wage laws and payment obligations
- Document terms of employment, including compensation, equity, at-will relationship, and confidentiality, invention assignment, non-solicitation, and/or non-competition obligations
- Make sure equity granted to employees (and any other service providers) is subject to vesting
- Treat employees consistently, and contemporaneously document any employee performance problems
Read more about building your team. You can also view the webinar materials.