ContractsEmploymentInformation TechnologyIntellectual PropertyStarting & Operating a Business
Whilst the IP Assignment Agreement usually addresses the assignment of pre-incorporation IP rights to the startup, an Invention Assignment Agreement assigns the rights that may arise during the lifetime of the startup, it is usually drafted in a “futuristic” manner such that it assigns to the company, rights that may arise whilst executing tasks in […]...
Company LawIntellectual Property
As the name implies, this is an agreement through which an individual assigns rights in an intellectual property to another. Startups are built on a lot of intangible property, inclusive of skills and know-how. When people come together to start a business, their primary contribution usually entails this intangible property, and it needs to be […]...
ContractsIntellectual PropertyStarting & Operating a Business
All startups are built on ideas and the execution of these ideas always involves sharing these ideas with others. An NDA is a contract entered into to protect the confidentiality of information shared between parties. It restricts third party access to the information shared and is enforceable in court when breached. An NDA could be […]...
Company LawCorporate GovernanceStarting & Operating a Business
Whether it is a business name, a limited liability company or a partnership, you need to have some form of entity through which you and others would participate in and run your startup. This entity would possess enabling and creating documents, which are most likely documents you filed and received from the Corporate Affairs Commission […]...
ContractsEmploymentStarting & Operating a Business
An employee contract is an agreement between an employer and the employee. The employee contract basically states out the terms and conditions of the employment relationship. Like every contract, there must be: an offer – the employer offers the employments stating the terms of such employment; an acceptance – the employee accepts the employment and […]...
ContractsEmploymentStarting & Operating a Business
Although sometimes found in transactions between parties, non-solicitation and non-competition (or non-compete) clauses are typically found in employment agreements. The difference between both lies in the scope of what they prohibit. A non-solicit restricts, restrains or prohibits the employee (or party if a transaction) from contacting the employer’s past, present (or sometimes prospective) customers, […]...
EmploymentInformation TechnologyIntellectual PropertyStarting & Operating a Business
The greatest asset of any entrepreneur is the entrepreneur’s intellectual property (IP), i.e. the non-tangible assets that go into building or establishing a business. The general assumption in law is that the owner of a work, is its creator as such if an employee creates any work whilst being employed by the employer, unless […]...
ContractsInformation TechnologyIntellectual PropertyInvestments & FinancingStarting & Operating a Business
Any information can be protected using a Non-Disclosure Agreement (NDA) so long as both parties agree for such information to be protected. The confidentiality obligation of the NDA may be express or implied depending on what the parties to the NDA agree. Some parties will agree that only information expressly stated to be confidential is […]...
ContractsInformation TechnologyIntellectual PropertyStarting & Operating a Business
A Non-Disclosure Agreement (NDA), also referred to as a Confidentiality Agreement is legally enforceable agreement in which parties agree on the type of information, documents or details that are to be considered confidential and secret. The parties then agree not to disclose these information, documents or details to others. An NDA could be mutual (i.e. […]...
Family LawWills and Estates
Dying without a will is otherwise known as dying intestate. When a person dies intestate, , the “laws of the land” kicks in to administer and distribute the person’s estate. In Nigeria, the particular law that will apply depends on a number of factors including where the person lived, the person’s lifestyle, what type of […]...
Contracts
Yes, a paper napkin contract is valid. It does not matter what the contract is written on so long as all the elements of entering into a contract are present. These elements include offer, acceptance, an exchange of consideration and an intent to be bound....
ContractsStarting & Operating a Business
No, a contract does not have to be in writing to be valid. A contract can be oral, written or implied. What is important is for all the elements of entering into contract must be present. These elements include offer, acceptance, an exchange of consideration and an intent to be bound....
