QUESTION

What can I do to protect myself?

Asked on Jun 07th, 2012 on Business Law - Florida
More details to this question:
On March 9, 2012 I sent an email to a National Company in reference to an idea I had to expand their business. A couple of weeks after sending the email, I received a phone call from their VP of Sales and gave him the brief explanation of this idea. During our conversation I explained that I could help launch this new program under a contractual basis.... The past few days I have been on a few conference calls with them, expanding the idea with a little more detail. After analyzing the numbers closely, I realize this idea is worth $70-$100+ million a year (residual) to this company... My fear is they will take my idea and leave me out of the loop. How can I protect myself with this?
Report Abuse

1 ANSWER

while it may be too late to get them to sign written agreements,normally you would get something called a nondisclosure agreement in place prior to disclosing an idea to the company. Without that, you will probably have to establish a written communication trail that provides that you disclosed this idea to them with the intention that you would be compensated if they exploited the idea for commercial purposes. In Florida there was a case several years ago involving Walt Disney World and the wide world of sports complex that was built there. The creators of the idea were given a judgment against Walt Disney World. You might want to try to look that up to get an idea of some of the issues and possibly the difficulties in documenting your claim sufficiently. If appropriate, you might also want to consider disclosing the idea to a competitor that might also be interested in adopting it and trying to get a nondisclosure agreement out of them. However, these types of communications become very difficult with large corporations because they get bogged down in layers of bureaucracy and discussions with corporate counsel, etc. You should use an attorney to help you wade through this and try to get as much protection as possible at this point in your discussions and negotiations. This is specific to Florida law and does not constitute legal advice as the facts presented are anonymous and incomplete. This is intended for general education only and does not create an attorney-client relationship. This should not be relied on and you must seek your own attorney client relationship.
Answered on Jun 07th, 2012 at 3:30 PM

Report Abuse

Ask a Lawyer

Consumers can use this platform to pose legal questions to real lawyers and receive free insights.

Participating legal professionals get the opportunity to speak directly with people who may need their services, as well as enhance their standing in the Lawyers.com community.

0 out of 150 characters