Small buisness newbie- Help

[chemjr]

Hey all,
Been around the forums for many years, mostly a lurker. But I need your help. I have an opportunity that I am extremely excited about- I have the opportunity to possibly start a supplement company and that's about all I'd like to reveal about it.
Basically I'm wondering how to protect my formulations and ideas with my co owner and funder of operations. He also has always wanted a supp company. Seems like a Very nice Very legit guy, however, I'd like to be smart and protect myself from getting my ideas stolen and such. I know there's intellectual property rights, but not too sure how well that holds up, and what else I can do to protect my ideas as things progress. And any thoughts, concerns, ideas etc, lay em on me. And pls try not to be too critical as I did get a formal education but am a fairly intelligent guy. ALL help appreciated. Thanks a lot pm members. A1 out.

 

[Deleted member 121863]

your trying to protect ideas from partners or just general public that use these supps? Couldn`t you just list "proprietary blend", blah blah? Nobody even checks that, not FDA, nobody. You could put stuff in and not even list it. It won`t be tested by feds unless there are some reactions or negative feedback. I once joked about starting a baby soothing "candy" with some xanax or equivalent herbal supplement. I would make so much cash the first 3 yrs before feds tested it that 3 yrs in federal day camp would not matter... but that is a bad idea and I never moved passed a joke 3 drinks deep.

 

[chemjr]

Trying to keep my ideas/formulas safe from partner, and public. I trust my partner, but I also know how things have gotten on places like evolutionary- yeah, I know, fk em- and just don't want any bad blood Possible. If that's possible. He has everything tested so we know Exactly how many mgs of each substance, etc. But he has money, I don't and just want to heir on the side of caution. And I would NEVER make a "proprietary blend" as that is usually an indication of total dogshit so I don't want ppl thinking that, and I Want ppl to Know exactly what they're putting into their bodies. And I'm not worried about fda as they are overwhelmed and I'm friends with the daughter of the last director of fda and even he said they can only check Maybe 15% of what's out there, so they're the least of my concerns.
My concerns are protecting myself while building this buisness, so just in case of some weird freak thing I can venture out on my own if need be. But I hope that isn't the case. Also, can you patent pend things that are not approved by fda? Just curious. Thx all.

 

[bigpapa]

So i learned this in business law...

If you want a quick and cheap way to protect your ideas and etc... write everything down and mail it to yourself. Dont open the letters either. Quick and easy way to protect intellectual property if you are paranoid.

 

[MrStick]

To protect yourself when involved with multiple partners you can all sign non compete clauses in your contract or articles of incorporation. I am not sure how or why you would want to keep ingredients or products secret from your business partners. Most joint business deals all have some sort of non compete clause so if one of the partners leaves he/she can not directly compete with you for a period of time.