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Topic: During severance package time.. (Read 5309 times) |
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jolly_cow
Newbie
Posts: 12
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During severance package time..
« on: Mar 7th, 2007, 10:08am » |
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My friend got laid-off recently during a major re-org/RIF
at his company.
He shall be on the (ex) company's payroll as a part of
severance package for a couple of months.
His HR lady said the following
==========Quote===========
Finding employment is up to you. You would just need to keep in mind
the post-employment obligation memo related to your
confidentially/proprietary agreement you signed when you started with XYZ company (his current/ex-company)
=================================
While my friend would like to start working on his start-up which including filing atleast prov patents; does he need to wait till the severance package-period is over? His start-up wont compete in product space of his current/ex employer nor uses his ex-company's proprietary or confidential info.
Thanks in advance!
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biopico
Full Member
Posts: 434
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Re: During severance package time..
« Reply #1 on: Mar 7th, 2007, 5:55pm » |
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For several reasons, I would wait.
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Registered Patent Agent Specializing in All Areas of Biotechnology
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jolly_cow
Newbie
Posts: 12
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Re: During severance package time..
« Reply #2 on: Mar 7th, 2007, 6:40pm » |
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>> For several reasons, I would wait.
Biopico, thanks! What in your opinion is the min period
to wait? immediately after severance package period?
or wait 2 weeks more?
What is a typical wait that folks in similar situation
would wait; in your opinion?
Again, thanks a million.
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biopico
Full Member
Posts: 434
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Re: During severance package time..
« Reply #3 on: Mar 7th, 2007, 7:44pm » |
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Immediately after or two weeks after doesn't really make a difference. I would just make sure that I begin a start up company when I have no obligation to my ex whatsoever.
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Registered Patent Agent Specializing in All Areas of Biotechnology
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JSonnabend
Moderator
Senior Member
Posts: 2251
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Re: During severance package time..
« Reply #4 on: Mar 8th, 2007, 7:01am » |
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Wow! That's some succinct advice, Biopico! Have you read the agreement? Do you know what the terms are? Do you know how, if at all, the startup's business would be related to the former employer's business? Do you know what's involved in "start-up"?
The answer is "no" to all those questions, so your advice is worth about as much as my dog's.
To the OP: your friend's best bet is to speak with an attorney who can review the actual employment agreement and all the pertinent facts and advise him/her based on the facts, not supposition. Off the cuff advice from some anonymous on-line pseudo expert isn't worth anything.
- Jeff
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| « Last Edit: Mar 8th, 2007, 7:02am by JSonnabend » |
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SonnabendLaw
Intellectual Property and Technology Law
Brooklyn, USA
718-832-8810
JSonnabend@SonnabendLaw.com
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