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Information For Cyprus Expats on leaving your current Cyprus employer to start your own business
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Employment In Cyprus - Leaving Your Cyprus Employer To Start Your Own Business
Many people dream of starting their own business, and to work for themselves. Working for somebody else can be restrictive, whereby you have to follow set procedures and company rules etc. This can be frustrating, especially for creative and artistic people, as you know you can do better.
There are many things to consider leaving your employer and starting up on your own. You have made your feasibility study no doubt, and have determined that you can earn a living on your own. You have checked all the legal, insurance, administration details and slowly you are coming round to telling your boss that you would like to hand in your notice.
He may ask the reason, and you may or may not tell him the reason, but if you do not tell him the real reason, you have to make sure that you leave on good terms and you have cleared all the legal obstacles involved with setting up your own business, as you may be in competition with your previous employer.
You must read your employment contract, and fully comply with all the conditions stipulated. Check all the small print, handbooks, and all other relevant papers and contracts, to check you are not breaking any conditions. All the conditions may not be stipulated in your contract.
So, what are the main points you should look our for? Your employer has spent time and money on you in order for you to provide a service. This means that your employer owns what you have produced. Do not think that just because you created something that you own it, because you do not.
You know you are good at what you do, so try to leave on good terms with your employer. He will also know that you are good at what you do, so leaving on good terms will mean that maybe you can still work together. Leaving on bad terms may have repercussions for you.
Employers will want to protect their company information and clients. They may have inserted some clauses in their contracts to prevent you from approaching any of their clients and using company information. The clauses may prohibit you from approaching any of their clients within a certain period. They may also have a clause preventing you from head hunting their employees within a certain timescale.
There are many pitfalls to starting your own business, many hurdles to overcome, so start off on the right foot, and do not begin with a court summons from your previous employer, who is taking you to court, because you did not do your homework on checking your contract and all the relevant clauses.
A wise investment may be to ask a lawyer to have a look at the contract, and with his advice you will be in a good position to start off on your new venture. If you would like to have legal advice on your employment contract, our Cyprus Expat Legal Services are able to help you. Just complete our Contact Form quoting ref Legal Services and a member of our team will contact you.
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