I cannot start muse due to a clause in my contract

[seb09]

Dear All,

Advice sought. I have worked in SME’s for the last 4 ½ years. I develop new products and set up departments.

I now have several muse ideas, however, I have a clause in my contract which prohibits me from even setting up any company.

What would you do in my position?

Your advice is much appreciated.

[jaywenk]

do you have a spouse that could be the owner of the corp?

[kamakiri]

Look deeper into the book and focus on the LD aspects. There is easily enough there that you could take parts and make them habits. Downsize, eliminate, and cut the fluff out of your personal life first. Get yourself ready to live the NR lifestyle. Sadly soo many people put the horse before the carriage and go for the muse first.

Lastly...you do not need a company to have a muse...

[mhprincipe]

Did you have an Attorney Review the contract?

[Viers442]

Kamakiri,

You are right about putting the cart before the horse. My wife and I negotiated ourselves out of jobs that were dead ends for both of us. We both recieved severance packages and started our muse, a health & wellness blog with a strong focus on the mind body connection, with a later addition of an actual product. The blog was started back in June 2008 and we are just now (in February 2009) are hitting the LD aspects. We have literally gotten rid of all that do not need, this means TV, couch, bed, dresser, etc. so we can move out to Southern California. In hindsight we should have hit the LD aspects first and then started our muse as it would have better positioned us to pull the trigger when it came time to start producing product.

I would like to make one comment about not needing a business to have a muse. While that is true, you do not need a business, the legal protection it offers is cheap insurance. It cost me less than $400 to have an LLC setup and an operating agreement drawn up, all by an attorney. In my eyes that is money well spent.

Live and learn, that is part of life, and that is makes it fun.

[mhprincipe]

Seriously... I know that we are fighting to make our muses work and the last thing we want to do is shell out bucks for a lawyer, but having one is extremely important in business.

If anyone needs legal advice or an attorney, I know of a way to help you out in all 50 states, without it costing an arm and a leg. Send me a private message and we'll talk.

'nough said. :)

[kamakiri]

Whatever intentions the previous poster has, I can only advise to stay away. As a commercial banker (in a previous life), the best free advice is freely available at your bank. They want your money, in deposits, not fee income, like a lawyer or accountant.

They offer free consultation and have stacks of all of the local paperwork you need. Asset protection is a prime concern of my own and I also own my own company. They are not necessary, I highly recommend them as well, but that is not the point of the post or my earlier advice.

Just look at the post from Viers. Working on the lifestyle design aspects of the book is far more important than having a passive income stream set up, and the benefits on you quality of life are compound. Besides, no contract can regulate that.

[mhprincipe]

Hey, previous poster, first, thank you for your opinion, but you're dead wrong.

In the USA & Canada there is a company that offers a Legal "HMO", similar to what is offered in Germany, that works much like the Health Insurance variety here in the USA. As the Health HMO helps to prevent situations as well as take care your health during an emergency, so this Legal HMO helps to ensure that you doing the proper thing legally, as well as protect you when some idiot sues you because the "French Sailor Shirt" that he bought from you killed his dog after he fed it him.

Best story I can give is that I was in florida buying property in nevada and I live in michigan. I had a three way call with attorneys in all three states talking and reviewing contracts for about 2 hours. Didn't cost me a thing because it's included. Amount Saved ($200 * 2 Hours * 3 Attorneys = $1200)

Now, just so that I'm VERY clear here. I am NOT selling this, as that goes against the spirit of this forum. I am a STRONG believer in this product as it's saved me $1000s over the last few years and I would not do business without it. You question my intent. To help people build their lives and muses getting into "entanglements" that can be easily avoided by a little pre-meditative legal action.

So what's your intent? Why would you slam someone who is offering to help before asking questions to understand what they are saying? Is it so hard to ask and find out? I mean you could have said, or messaged me, saying "hey are selling something?", or better yet, "what's is all about?"

I'm off my soapbox now. next.

[Sven]

"Fighting to make our muses work?"
Speak for yourself.

People who fight need lawyers.
Fighting is NOT 4hww. We may struggle sometimes but fighting is a waste of energy.

Now I am not saying that one can do without lawyers. Just make sure you know when you need to consult one.

You seem to want to take on Kam. It is very brave to do that in your third post. Before you continue, better read up on his other contributions... or end up toast.

Kam is dead on when he says to get the lifestyle thing going first. Musing is about taking the smallest steps possible in the quickest succession. Start where you can make the smallest step. Starting with the biggest is setting yourself up for failure.

[dvdwlsh]

I now have several muse ideas, however, I have a clause in my contract which prohibits me from even setting up any company. What would you do in my position?

For the sake of hammering home what I feel is a glaringly obvious point -- make sure you validate what you're doing against your market before taking any steps as in-depth as forming a business entity. I notice you mention having "several muse ideas" which paints a picture that you're still planning rather than ready to push forward with a well-validated product/offer.

Again, I'm making assumptions here but just keep in mind that you don't even need to think about your legal situation or business structures until you've rigorously tested your idea.

Look forward to hearing where you land on all this and following your progress.

David

[mhprincipe]

Sven:

I agree, get the lifestyle working And no, as much as I love a good fight, I'm not trying to take Kam on, I know that he is trying to help, but it seems that a bank would not obligated to operate in your best interest, thus would client privledge apply, since you are not a client of the lawyer, but of the bank, if that is indeed what he is suggesting. Kam?

I have my own businesses as well and it's been my experince that if you try to do legal things without a lawyer, at least one that specializes to look it over, you usually get screwed in the end to some degree. Most people don't use them, becuase they cost too much ( me included). That's why I suggested this as an option. I mean if the person who started this has a contract, and he thinks it may cause a problem, what does it hurt to have it reviewed properly? That way he is reasonably sure where he stands and what he can do about it. If it cost $200, you may pause, but if there wasn't a cost would you?

I'll look at all your posts later, I didn't want it to jade my debate on my soapbox. LOL And Sven, that is 4 posts now! :-D