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How can I protect my idea

Discussion in 'Starting a Business, Incorporation' started by Terry Thompkins, Apr 1, 2021.

  1. Terry Thompkins

    Terry Thompkins Law Topic Starter New Member

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    Hello, I'm starting my own brokerage firm. We will be brokering a unique type stocks than normal brokers. To my knowledge no one else is doing this and I would like to know how I can protect my unique concept while trying to get funding.
     
  2. zddoodah

    zddoodah Well-Known Member

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    Retain an attorney to draft a good non-disclosure/non-competition agreement and do not disclose your idea to anyone who hasn't signed it.
     
  3. adjusterjack

    adjusterjack Super Moderator

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    You can't protect just the concept. If you can think it up so can somebody else.

    If you are concerned that those, from whom you are soliciting funds, might use the idea, then you would be wise to heed zddoodah's suggestion.
     
  4. Tax Counsel

    Tax Counsel Well-Known Member

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    And also make sure you see a securities lawyer. Though your brokerage may offer a "unique" type of stock, they'll still be securities and subject to federal securities laws. You'll want to ensure you comply with those rules because you can end up owing a true fortune to the government and disappointed investors if you don't follow the rules.
     
    justblue and Zigner like this.
  5. army judge

    army judge Super Moderator

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    Easy peasy, mate, don't ever tell anyone the details to your super-secret, sure fire, moneymaker!!!

    That's how the Colonel keeps his fried chicken recipe safe and secure, how Coke has never revealed their special drink formula, and how Superman has never allowed anyone to peek under his cape.
     

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