What is a coworking space? Coworking spaces are locations where freelancers, startups and entrepreneurs come together to work in a shared office. They are also referred to as "collaborative" spaces, "hot-desks," "co-works" or sometimes even "shared offices".
Nottingham is a city in central England’s Midlands region. It’s known for its role in the Robin Hood legend. Nottingham is also a vibrant student city. Choosing a coworking space in Nottingham 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.
Everything you need to do in your first 100 days
Making a decision to hire a solicitor can be difficult, particularly if money is an issue.
An article for all those interested in creating and managing contracts
How small businesses save time and costs by automating their high volume contracts