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Should you share great ideas with your firm?

by on
in Employment Law,Human Resources

Your company has an employee suggestion program, and you’re dying to submit your brainstorm and collect a nice reward. Not so fast.

Research your employer’s policy. In many cases, organizations agree to give employees 10 percent of the money that’s saved or earned after using an idea. Sounds good at first, but check whether the company imposes a cap of, say, $10,000 or whether you’ll keep collecting money after the first year.

If you’re sure you have a blockbuster bottom-line idea, you may want to bypass your employer and set up shop on your own.

But beware: Some employment contracts prohibit such moves by giving your employer rights to any ideas you develop that relate to its business.

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