• Interns

    Do you really want an intern?

    Before you post the ad for that exciting internship at your startup, let’s make sure an intern is right for you. If you have never had an intern, then you want to be very careful hiring your first one. Interns can be a great asset to your startup. They are cheap labor and can bring fresh ideas and youthful energy. At the same time, if you are not prepared for an intern, they can be a time-sucking thorn in your side. Have you clearly defined the type of help you need? Will you be able to get an intern who already has the skills to do the job? Is there a professor working with the intern…

  • Interns

    Do I have to pay my intern?

    There are two types of internships: paid and unpaid. The law regarding internship pay is governed by the Fair Labor Standards Act, a 64 page document written years ago with numerous amendments that spells out various laws regarding employment. The rules are a bit complicated and the law says that FLSA is exclusive to employers who have an annual revenue of a minimum of $500,000. However, the FLSA also states that any employer regardless of income doing interstate commerce is subject to FLSA. It further defines interstate commerce as email, phone, and other communications across state lines. You may want to err on the side of caution and assume your are subject to FLSA.…