Legal Documents for
Protecting Your Ideas
You have some great ideas. If you're looking to protect your ideas when you want to share them, you've come to the right spot.
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A Confidentiality Agreement allows you to share your ideas and confidential information and keep it all safe. The person you share your information with promises to keep it confidential and to give it back to you when you ask for it. They also promise not to use your information against you, like using it to compete with you. The other person also agrees to be responsible for any misuse of your information by their employees and representatives.
You can also include a non-solicitation promise, which means the person you share the information with can’t steal current customers or your employees and contractors.
Letter of Intent
You’re hustling and working on landing that new client or business deal. You need to start sharing ideas and sketching out what the deal will look like, but you’re not ready to sign the contract just yet. So what do you do to protect your ideas, deal points, and info in the meantime?
That’s where a Letter of Intent comes in. It’s a “handshake” deal put down on paper, letting you write out your major deal points so you can move ahead. A Letter of Intent includes things like a description of the deal or project, cost and profit sharing, and other key points that will eventually go into a larger, binding agreement (like a Joint Venture Agreement or a Services Agreement). A Letter of Intent can also include confidentiality promises and agreements to not shop the deal (meaning the other person can’t use your offer to shop around for something better). We’ll guide you through it.
Intellectual Property Purchase Agreement
Businesses often grow by buying important assets from other businesses. With today’s high tech economy, it’s really common for businesses to buy intellectual property from other companies. For example, you could be buying some of another company’s copyrighted materials. Perhaps you’re buying trademarks or patents, too. You could even be buying their tech, like a software platform, code, or an app. If that’s what you’re up to, this agreement is where you should start.