What should I consider when creating an employment contract with my employer?
Full Question:
Answer:
An employee, usually one in an executive-level position, who seeks some job stability or security, and a business that wants to protect trade secrets, patents, inventions, sales territories, customer lists, and similar confidential business information often find it helpful and desirable to place the terms of the employer-employee relationship in a binding, written employment contract. In considering whether a written employment contract is appropriate in a particular situation, there are conflicting considerations. On the one hand, if the employment relationship is to exist over a long period of time, it may be best to memorialize the agreement by reducing it to written form, to minimize dispute over the mutual obligations of the parties in the employment relationship. A worthwhile employment contract should be thorough and take into consideration all the different contingencies which may arise in the course of the employment relationship.