LEGAL WORK: Before or After

[TrueCreator97]

Hey Everyone,

I hope you've all had a great start to 2018 and are killing your goals as we move forward in this new year.

I was wondering where you think certain legalities fall in the execution process. The two ones I'm most concerned with initially are incorporation and a trademark for my brand name/logo. I have proven demand for my product through sales to friends and family (many repeat buys, constant orders, etc.) and am ready to move ahead with the manufacturing and marketing. Given that I'm on a limited budget (money and time), I figured it would make more sense to get started with production and accumulate some sales before registering things formally. In the meantime, I could have my manufacturer and those helping me with the creative aspects of the marketing plan sign NDA's.

Curious to see what everyone thinks!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[RobD88]

NDA's, NDA's, NDA's! Put a confidentiality agreement in place with anyone you are working closely with on anything that has to do with your design, patent, trademark, etc. These aren't expensive. You can find ready to use templates online and usually their lawyers will redline the hell out of them anyway until you come up with something agreeable.

Trademarks are next if you feel you have something that is unique and will wow your target market or be memorable. And if you have plans for global expansion do not forget to register the trademarks in all of your target countries as soon as you have the resources to do so.

I am in global sourcing & supply chain management for my slow lane day job. I negotiate NDA's and contracts every day. While I'm not a lawyer I have pretty extensive knowledge and resources. I'd be happy to try to answer any specific questions you may have on them.

 

[TrueCreator97]

NDA's, NDA's, NDA's! Put a confidentiality agreement in place with anyone you are working closely with on anything that has to do with your design, patent, trademark, etc. These aren't expensive. You can find ready to use templates online and usually their lawyers will redline the hell out of them anyway until you come up with something agreeable.

Trademarks are next if you feel you have something that is unique and will wow your target market or be memorable. And if you have plans for global expansion do not forget to register the trademarks in all of your target countries as soon as you have the resources to do so.

I am in global sourcing & supply chain management for my slow lane day job. I negotiate NDA's and contracts every day. While I'm not a lawyer I have pretty extensive knowledge and resources. I'd be happy to try to answer any specific questions you may have on them.

I can't say I've got any specific questions at the moment. But based on your experience, do you think that's enough legal protection to have until the production/design process is done and the sales start rolling in? Thanks.

 

[RobD88]

I can't say I've got any specific questions at the moment. But based on your experience, do you think that's enough legal protection to have until the production/design process is done and the sales start rolling in? Thanks.

Personally, I started with my LLC. I felt it was important to put protections in place for my personal assets. If all you are doing is developing prototypes at the moment then I would think NDA's are all you really need. But again, I'm not a lawyer and others may have differing opinions. My opinion is that you should definitely have NDA's in place with any and all of your potential suppliers.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.