Hi, Sean, Thank you for your additional information, it will help give me a more accurate Answer,
You asked the following,
"If i were to get let go what insurance would I have based the fact that I help build this company into what it is and they can basically take advantage of my talents and burn me out until I am forced to quit. Is it legal to work your employees to this degree? "
1. Because you are a salaried employee, your employer, unfortunately, can work you as hard as he wants. Under normal circumstances, the employer would generally reward the employee for working such long hours and producing an excellent work product for the employer. However, in your circumstances, the company has been bought out by another company and might be under the control of yet another company, the holding company. They are new "players" here and do not know the extent of your loyalty or the excellence of your work product and if the old employer says nothing about you, the new people will not know enough to give you the rewards that you deserve and they will simply continue to expect you to work the hours that you have done in the past.
Exempt employees are not paid what they are worth because they are exempt from the "Overtime Rules". It will be up to you to let them know your value to the company, your performance in the past and what you will mean to them in the future, and to demand a higher salary if they want to keep you. I understand what you said about letting many employees go, and I also understand under the Federal and State Labor Laws, they can do that to you as well. Therefore, it is up to you to let them know your worth to the company;
2. I am sure that you were very instrumental in building up the company into what it is today. But, if you have no written Agreement with the employer regarding profit sharing, or retaining ownership of products or ideas you created while employed with the company, then the company owns all of that. It is a real shame, but unless there is a written Agreement stating that the employee has ownership rights in his work product or the ideas he created, they are owned by the employer. Similarly, if there is no written Employment Agreement between the employer and the employee which sets forth the rights and obligations of the parties and under what conditions the employer-employee relationship can be terminated, the employment relationship is an "At Will" relationship which means that the employer can terminate the employee at any time, for any reason, or for no reason.
However, if there is no specific written Agreement regarding an employee's work product or creative ideas, it could be argued that the employee is not restricted in any way and can use these ideas or products he created in his own business, so that is certainly something to think about.
I wish I could give you a more favorable Answer and the one you were hoping for, and it would have given me great pleasure to do so, but I have an ethical obligation to give you only correct Answers, so I am respectfully XXXXX XXXXX you not hold the laws of New York applicable to your situation against me when rating my service to you,
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