A coworking space is a shared work environment with a focus on self-employment. Coworking is typically less expensive than traditional office space and comes with a high level of networking among the individuals sharing the space.
Cardiff is the capital and largest city of Wales. Cardiff is a dynamic city with a tangible energy but with deep roots into the past. Choosing a coworking space in Cardiff can be a great decision for your small business but there are a number of factors you need to consider before making a decision.
Finding the best coworking space for your business will depend on the type of work environment you are looking for, the size and stage of your business, if you're a startup or not and finally if you need private office space, meeting rooms or simply flexible work space with hot-desks. Coworking spaces will always offer serviced office space which includes wifi but depending on the location, they can offer perks like refreshments and foster an environment to network with other members of the shared office space.
Despite coworking spaces being a great place for small businesses and entrepreneurs, it is important to ensure you have sufficient legal protection to make sure your intellectual property is protected and employees protected against solicitation from other coworking companies. Robust non-disclosure agreements and employment contracts can protect your business and grow confidently.
A non-disclosure agreement (NDA), also known as a confidentiality agreement, is a contract between a party disclosing confidential information and the party receiving that information. The receiving party, who is also known as the recipient, agrees to protect the other party’s confidential information by keeping it secure, not using it for unauthorised purposes, and not disclosing it to third parties. NDAs are crucial whenever sensitive information is being shared, especially in a coworking space where other members might over hear information or see sensitive data. Members of a coworking space often enter into an NDA to ensure that they do not use other members' confidential information for their own purposes and that their own confidential information is protected.
An employment contract allows an employer to hire an employee for a specific role in exchange for a salary. The employment contract should have a number of restrictions to prevent the employee from working for a competitor or for intellectual property developed during the course of employment from being used by the employee outside of work.
Having the right non-disclosure and employment agreements in place will allow you to thrive in a coworking space. To create a customisable lawyer approved contract for only £9.95, sign up to Legislate. Legislate offers all the essential legal documents on no legal budget so that you can focus on your business and have peace of mind that your legals are in order.
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