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Community Legal Services at Western University Presents the 4th Annual Access to Justice Symposium on March 24, 2017

 

Sniffing out awesome startup events, we’re venturing out of the doghouse to check out the 4th annual Access to Justice Symposium hosted by Western University on March 24, 2017!

 

 

 

Topics Covered:

The event’s focus will be on innovative tools for a profitable practice, including (1) discussions about alternative fee arrangements, (2) technology, innovation, and the law, (3) legal coaching, and (4) pro bono law in Ontario. Clausehound.com’s CEO, Rajah Lehal, will be speaking on the technology, innovation, and the law panel. The event’s keynote speaker will be Ontario’s former Attorney General and current Executive Director of the Legal Innovation Zone.

Event Details:
Date: March 24, 2017
Location: London, ON
Time: 9:00am-3:30pm
Cost: FREE
CPD Hours: 5 hours of professionalism credits

 

For more information, please see the Community Legal Services’ website and register directly by emailing clsevent@uwo.ca.

 

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Clausehound.com regularly curates a list of innovation and entrepreneur-focused events. Events we like have insightful speakers and provide attendees an opportunity to network with entrepreneurs, and learn from others within the community.

Clausehound.com is a legal tool geared towards entrepreneurs, early-stage businesses and small businesses alike to help draft legal documents to make businesses more productive. Clausehound.com offers a $10 per month DIY Legal Library which hosts tens of thousands of legal clauses, contracts, articles, lawyer commentaries and instructional videos. Find Clausehound.com where you see this logo.

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Startup Of The Week: The Double Jay Collective

Clausehound’s partner organisation, Propel Entrepreneurship, has shared an interesting entrepreneurship story of one of their community members, Jenny Jay. The Double Jay Collective is the accumulation of Jenny’s works as an artist. It is an inspirational story demonstrating that new ventures come in many forms and are oftentimes truly representative of the business’ creator.


To see The Double Jay Collective’s full video, please follow this link.

 

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This article is provided for informational purposes only and does not create a lawyer-client relationship with the reader. It is not legal advice and should not be regarded as such. Any reliance on the information is solely at the reader’s own risk. Clausehound.com is a legal tool geared towards entrepreneurs, early-stage businesses and small businesses alike to help draft legal documents to make businesses more productive. Clausehound offers a $10 per month DIY Legal Library which hosts tens of thousands of legal clauses, contracts, articles, lawyer commentaries and instructional videos. Find Clausehound.com where you see this logo.

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DementiaHack 2017 Winners!

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DementiaHack 2017 Winners!

Clausehound’s partner organisation, HackerNest, has written an excellent article on their efforts to raise awareness and create technology solutions to support individuals suffering from dementia. Clausehound’s community can benefit immensely from understanding the impact of dementia and how technology can drastically improve the lives of people suffering from this disease. Initiatives like these illustrate the impact that the technology community can have on suffering individuals in our society and provide all tech enthusiasts with the opportunity to participate in similar events in the future.


To read the full article by HackerNest, please follow this link.

 

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This article is provided for informational purposes only and does not create a lawyer-client relationship with the reader. It is not legal advice and should not be regarded as such. Any reliance on the information is solely at the reader’s own risk. Clausehound.com is a legal tool geared towards entrepreneurs, early-stage businesses and small businesses alike to help draft legal documents to make businesses more productive. Clausehound offers a $10 per month DIY Legal Library which hosts tens of thousands of legal clauses, contracts, articles, lawyer commentaries and instructional videos. Find Clausehound.com where you see this logo.

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StartupTech Unleashed Meetup: Toronto – April 2017

Clausehound’s partner organisation, StartupTech Unleashed, will be hosting a meetup for tech enthusiasts in Toronto on April 4, 2017. This a great opportunity to network with fellow entrepreneurs, startup founders, technologists or just to meet new people. StartupTech events aim to foster entrepreneurial growth and nurture ideas from the conception stage to global domination.


To see more information about StartupTech Unleashed’s event, please follow this link.

 

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This article is provided for informational purposes only and does not create a lawyer-client relationship with the reader. It is not legal advice and should not be regarded as such. Any reliance on the information is solely at the reader’s own risk. Clausehound.com is a legal tool geared towards entrepreneurs, early-stage businesses and small businesses alike to help draft legal documents to make businesses more productive. Clausehound offers a $10 per month DIY Legal Library which hosts tens of thousands of legal clauses, contracts, articles, lawyer commentaries and instructional videos. Find Clausehound.com where you see this logo.

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Toronto Tech Summit 2017

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Toronto Tech Summit 2017

Clausehound will be attending the Toronto Tech Summit hosted by Genesys on May 26, 2017! This event is a great opportunity to hear from industry-leading speakers and learn how to craft incredible experiences through technology! Clausehound continues to attend this great event as it is a prime opportunity to learn about the use of technology in business and network with local technology enthusiasts!


To see more information about the Tech Summit event, please follow this link.

 

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This article is provided for informational purposes only and does not create a lawyer-client relationship with the reader. It is not legal advice and should not be regarded as such. Any reliance on the information is solely at the reader’s own risk. Clausehound.com is a legal tool geared towards entrepreneurs, early-stage businesses and small businesses alike to help draft legal documents to make businesses more productive. Clausehound offers a $10 per month DIY Legal Library which hosts tens of thousands of legal clauses, contracts, articles, lawyer commentaries and instructional videos. Find Clausehound.com where you see this logo.

What you don't know can hurt you! Subscribe to stay informed.

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Read more...

MyShop – The Ultimate Marketplace

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MyShop – The Ultimate Marketplace

Clausehound’s partner organization, MyShop Makerspace located in Kitchener, Ontario, has released an engaging advertisement showcasing the opportunities available at their state-of-the-art facility. If you are an entrepreneur located in Southwestern Ontario and you’re looking for an awesome space from which to access equipment and learn new skills, look no further than MyShop Makerspace. They can help you turn an idea into a viable business!


To see MyShop Makerspace’s video, please follow this link.

 

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This article is provided for informational purposes only and does not create a lawyer-client relationship with the reader. It is not legal advice and should not be regarded as such. Any reliance on the information is solely at the reader’s own risk. Clausehound.com is a legal tool geared towards entrepreneurs, early-stage businesses and small businesses alike to help draft legal documents to make businesses more productive. Clausehound offers a $10 per month DIY Legal Library which hosts tens of thousands of legal clauses, contracts, articles, lawyer commentaries and instructional videos. Find Clausehound.com where you see this logo.

What you don't know can hurt you! Subscribe to stay informed.

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Miovision Scout is changing the game… again

Clausehound’s partner organisation, Catalyst, is promoting a new product by one of their member companies, Miovision. This new product illustrates the value of the Internet of Things (“IoT”) technologies and how they can continually improve efficiencies for a business or municipality. These are capabilities beneficial to all entrepreneurs and  can be  applied in a wide variety of commercial contexts!


To read the full article by Miovision, please follow this link.

 

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This article is provided for informational purposes only and does not create a lawyer-client relationship with the reader. It is not legal advice and should not be regarded as such. Any reliance on the information is solely at the reader’s own risk. Clausehound.com is a legal tool geared towards entrepreneurs, early-stage businesses and small businesses alike to help draft legal documents to make businesses more productive. Clausehound offers a $10 per month DIY Legal Library which hosts tens of thousands of legal clauses, contracts, articles, lawyer commentaries and instructional videos. Find Clausehound.com where you see this logo.

What you don't know can hurt you! Subscribe to stay informed.

Sign up now and receive an email when we publish new content.

We will never give away, trade or sell your email address. You can unsubscribe at any time.

Read more...

CPD Finance Conference 2017

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CPD Finance Conference 2017

Clausehound’s partner organisation, CPDonline.com, will be hosting an event for small business CFOs and finance professionals focused on common legal issues that can arise over the course of business operations.This is a great event for anyone interested in acquiring the financial skills required to operate a successful venture! This is a full-day event taking place at KPMG LLP, 333 Bay Street on June 5, 2017.


To see more information about CPDonline’s event, please follow this link.

 

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This article is provided for informational purposes only and does not create a lawyer-client relationship with the reader. It is not legal advice and should not be regarded as such. Any reliance on the information is solely at the reader’s own risk. Clausehound.com is a legal tool geared towards entrepreneurs, early-stage businesses and small businesses alike to help draft legal documents to make businesses more productive. Clausehound offers a $10 per month DIY Legal Library which hosts tens of thousands of legal clauses, contracts, articles, lawyer commentaries and instructional videos. Find Clausehound.com where you see this logo.

What you don't know can hurt you! Subscribe to stay informed.

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We will never give away, trade or sell your email address. You can unsubscribe at any time.

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What legal rights do I have where an employer promised shares but did not deliver?

Trust is a big part of any deal, and  a situation where you’ve been hired and promised shares but never received any is a major breach of that trust. But does that trust translate into something legally binding, that when broken, gives you options for legal action?

 

The answer is in the details. When you say an employer has “promised” an employee shares, that can mean a few different things. If a verbal or oral agreement was made, it can be difficult to prove, even if it would otherwise be legally binding. If the shares were promised in a written agreement but never delivered, it can be much easier to force the employer to make good on the promise.


 

Verbal promises

Whether or not a verbal agreement is legally binding and enforceable depends on a number of important facts.

 

First and foremost is an employee’s ability to prove that a verbal agreement took place. This will require trustworthy testimony, and a clear reference to it in emails, messages, documents, journals, and so forth can be especially helpful. In cases like Druet v. Girouard (2012) (NBCA), email strings were accepted as verification of consent even when the electronic signatures themselves were disputed for not being totally accurate reflections of a person’s written signature. Supporting evidence lends weight, so don’t underestimate the importance of sifting through those emails!

 

Once the verbal exchange is proven to have taken place, the question becomes whether the elements of a binding agreement are present: an offer, acceptance, and consideration. That means there should be an identifiable exchange of something for the promise made, like money, or agreeing to accept a job in exchange for the promise of shares, to make the promise legally enforceable.

 

In the case of Fedel v. Tan (2010) (ONCA), Tan and Fedel started a new business together. They verbally agreed that Fedel would retain 60% ownership for organizing and administering the business, while Tan would retain 40% ownership for his financial involvement. Upon incorporation, Fedel received 100% of the shares issued, and Tan received none.Tan sued, and the judge looked at Tan and Fedel’s shared business history to determine that Tan had been entitled to 40% of the company. However, the judge decided against issuing shares to Tan. Because the business relationship between Tan and Fedel had been irreparably harmed by the dispute, ownership of shares in a closely held corporation would no longer have been a satisfactory result. The remedy instead was compensation.

 

So if you are entitled to shares, and can prove it, a court will still look at the particular circumstances to decide what the appropriate remedy will be, and this may not be the promised shares.

 

Written promises

If your employment agreement contains a provision entitling you to a particular number of shares at a particular point in time and you do not receive those shares, you may be able to bring an application in court to compel the employer to transfer the shares to you according to the terms of the employment contract.

Of course, this will not enhance the quality of your relationship with your employer! You are better off trying to use friendly channels to obtain the shares.

 

Stock Restriction Agreements

Before doing so however, you will need to look into the details of the contract. Often, employees or contractors will sign a stock restriction agreement. This contract usually provides that you are entitled to a certain number of shares that will vest over a period of time, for example X number of shares on July 20 each year, or X number of shares on the last day of each month. Until the shares have vested they are ‘restricted.’ Restricted shares can usually be redeemed (bought back) by the company at a very low price if your contract with the company is terminated, or if other trigger events take place (e.g., you are convicted of certain types of crimes). Often you are not entitled to vote restricted shares, and you may not be entitled to any dividends that have been declared. If you are terminated, you will not have a right to the promised shares if they have not yet vested.

 

 

Employee Stock Option Plans

Another common way for employees to believe they have been promised shares is under an Employee Stock Option Plan (ESOP). Your contract may entitle you to a certain number of options per year, or you may only be eligible to receive options if the directors use their discretion to grant options to you in any given year. It is important to check the fine print of the plan to determine what you are entitled to.

 

Once you have been granted options you will be able to exercise them to purchase shares at a set price. You will likely only exercise this option if the share value is at or above the purchase price. Note that the options will have an expiry date and many plans will specify that the company has the right, but not the obligation, to buy back any shares purchased under an ESOP if the employee’s contract is terminated for any reason.

 

To see standard versions of the agreements discussed in this article, visit our Small Business Law Library!

This blog was co-written by Alina Butt.

 

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This article is provided for informational purposes only and does not create a lawyer-client relationship with the reader. It is not legal advice and should not be regarded as such. Any reliance on the information is solely at the reader’s own risk. Clausehound.com is a legal tool geared towards entrepreneurs, early-stage businesses and small businesses alike to help draft legal documents to make businesses more productive. Clausehound offers a $10 per month DIY Legal Library which hosts tens of thousands of legal clauses, contracts, articles, lawyer commentaries and instructional videos. Find Clausehound.com where you see this logo.

What you don't know can hurt you! Subscribe to stay informed.

Sign up now and receive an email when we publish new content.

We will never give away, trade or sell your email address. You can unsubscribe at any time.

Read more...
Disclaimer: This database is provided for informational purposes only and copying, downloading, or use of any content on this site in any way does not create a lawyer-client relationship with the reader. ClauseHound Inc. does not provide legal advice, nor should any advice from ClauseHound Inc. be construed as such. Read the Full Disclaimer