Legal Question in Business Law in New York

Proposing a Business Idea to aanother individual or Corporation

If I want to propose a partnership regarding a Business Idea how do I protect myself from that person or corporation from stealing it?


Asked on 8/14/08, 8:23 pm

1 Answer from Attorneys

Nancy Delain Delain Law Office, PLLC

Re: Proposing a Business Idea to aanother individual or Corporation

You HIRE A LAWYER to develop an agreement tailored to this partnership that includes the following three clauses (among many others): confidentiality, noncompetition and trade secret. There is a LOT more to a partnership agreement than this, however. Partnership has some pretty draconian provisions that you don't want to have hanging over you.

You do NOT reveal your business idea before that agreement is signed by ALL parties.

I handle such matters frequently and would be glad to help you if you don't have an attorney already. Feel free to contact my office for a no-obligation half-hour appointment (this can be done by phone). Please note, though, that my office will be CLOSED from 8/15 until 8/24; if you call during that time, you will get the voicemail and someone will not return your call until 8/24. However, if you leave a message that includes your phone number (complete with area code), we will indeed return your call then.

THE INFORMATION PRESENTED HERE IS GENERAL IN NATURE AND IS NOT INTENDED, NOR SHOULD IT BE CONSTRUED, AS LEGAL ADVICE. THIS POSTING DOES NOT CREATE ANY ATTORNEY-CLIENT RELATIONSHIP BETWEEN US. FOR SPECIFIC ADVICE ABOUT YOUR PARTICULAR SITUATION, CONSULT YOUR ATTORNEY.

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Answered on 8/15/08, 2:19 am


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