Every startup will eventually have contracts with third-party vendors and suppliers to provide goods and services to the company. Taking proactive steps to ensure that the insurance requirements in your vendor contracts accurately reflect the needs of your company is vital to avoid complicated insurance issues and…
Businesses face several considerations when onboarding founders or employees who reside in foreign countries. These issues also apply to U.S.-based founders and employees who move to a foreign jurisdiction and work remotely.
As the summer quickly approaches, it’s the time of year that many employers consider hiring an intern for the summer. Start-up companies may view this as an opportunity to hire students as “cheap” or “free” labor. Unfortunately, there are a lot of misconceptions about unpaid interns. The…
U.S. Citizenship and Immigration Services (USCIS) is proposing to grant work authorization to foreign entrepreneurs who raise substantial capital for companies they start. USCIS estimates some 3,000 foreign entrepreneurs may qualify annually. USCIS expects this new proposal to create jobs, facilitate research and development and increase innovation…
Many entrepreneurs have a good understanding of statutory limitations and regulatory constraints on the operations of the businesses they are starting. That understanding often comes as a result of familiarity gained from years of experience operating in an industry. Other entrepreneurs may be newer to an industry,…
In this final installment of “I Got You Covered,” we provide a number of risk management tips with a focus on additional insured status. Although this list isn’t comprehensive, it covers the major risks that an additional insured should consider to actively protect its company and its…
In this installment of “I Got You Covered,” we discuss the benefits and drawbacks of additional insured status. Benefits of Additional Insured Status There are a number of reasons why a company would seek additional insured coverage. These include the following: Accessing Someone Else’s Insurance. At the…
“I got you, Babe.” It’s not just the title of a 1965 Sonny and Cher hit—it also aptly describes the relationship between a named insured and its additional insured. To clarify, an additional insured may be able to access the coverage provided by the named insured’s liability…
So you’ve been hammering away, putting your life savings into your new startup (plus maxing out your credit cards) and now you have investors willing to put money into your company. How should the money you contribute before investors be treated? And how do you to get…
Q: How should I invest in insurance for my startup? What types of insurance do I need? What can I expect from the claim process? A: A full risk assessment of your company’s developing business requires an audit of your potential liabilities. However, as a general rule…
