Legal Question in Business Law in Arizona
Is there a safe way to present a business idea to a company that may be interested without the risk of them stealing the idea?
2 Answers from Attorneys
Yes, you would require the company and persons, to whom you are disclosing your idea, to sign a confidential disclosure agreement whereby they agree to keep and hold everything that you disclose to them in complete confidence. Many companies refuse to sign such agreements so that may be a warning in the first instance.
As a Franchise Attorney I can say the other attorney is right on point. A well-drafted nondisclosure agreement, usually referred to as a NDA, is the starting point. The other option is to try and protect your idea via a patent, etc. Consult with a good business or franchise attorney in your area for specific advice.
Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.
Franchise Foundations, a Professional Corporation
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