The company’s founder, Mark Zuckerberg, is just in his early twenties, fresh from Harvard. Over the past few months, several of his recent classmates have made claims that they are the real owners of the Facebook concept.

Such disputes are very common for early stage companies. And it’s also common for these companies to be sloppy in protecting themselves from legal claims.
So what can be done?
First, it’s important to have founder’s agreements. These set forth contributions, roles, and ownership positions. There should also be clauses for things like noncompetition, nonsolicitation of employees, confidentiality, and commitments on time to be devoted to the venture.
I also think it’s a good idea to have all employees, contractors, and founders sign invention assignment agreements. This means that all intellectual property that is created will belong to the company.
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