united-states, learningI saw many professors in the US open companies while working full time. I am wondering how is it possible to work for a company while being paid by taxpayer’s money. Is it possible for people from other professions and in other developed nations?
In India(I guess this exists almost everywhere), it depends on the contract of the employee with the employer.
If the employer states something in the contract which disallows the employee from holding other businesses while working full-time under them, then it is (obviously) illegal to do so.
Else, you can pursue your startup.
(Almost all the companies here, have that clause in the joining contract)
Ok, honestly, professors have an advantage, nearly no other profession has.
They build up knowledge no one had before. Also they have a team of very high skilled people to validate ideas and implications and hundreds of students to search for literature, ideas, etc. more or less just for their scientific work. A field they are already specialist in.
Don’t get me wrong, it is hard work, but because of this and additionally the high reputation being a professor, makes it quite simple to get companies to hire your for some kind of consultation contract or introduce a product. Alone the connections he should have… etc. etc. etc.
Is it also possible for other professions? Of course it is. If there is a profession, you can create a own business. You need to have an idea and a problem to solve. Maybe it has not as much impact as those from professors, but still…
For most people, full time is a problem. There is an unwritten rule: The later you want to found a company, the more risky it gets. The opportunity costs rise over time. Reason is: As student you may has no experience, but you have no real responsibilities. That may changes, when you are an experienced developer with a wife, two kids and a house. Are you able to keep your standards with reduced income?
The StartUp 1x1:
There needs to be a problem, you need to have an idea to solve it, define a process or a thing which is able to realize your idea: e voila a product is born. If you combine problem, solution and customer your success rate should already be quite high and independent from any profession. Of course there is a lot more to it…
Starting a business is kindof an unwritten right in the US (maybe it is written but I just cant find it). I do not know about other countries; Im sure it varies greatly.
There are contracts that can limit this privilege, such as non-compete agreements, non-disclosure agreements, and other intellectual property contracts. But basically if you do not cause you employer harm, by taking other employees with you, stealing their IP, stealing their customers, etc, you will be protected by judicial law. Employers have a lot of power over you, but limiting your ability to work for yourself or for others is not one of them. Most of the contracts that companies make their employees sign, in order to restrict their ability to start a business, were signed under duress and thus not enforceable.
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