Legal Question in Intellectual Property in Florida

There are at Present two existing products that work well in diesel fuel. They both are

50 year old products. What we have done is take them and make a better product for

a specific select market that neither of these two companies have ever even considered.

1. Is the combining of these two, making a whole new product.?, If so. Can we develop it

under our trade name or company.

2. Should we approach them under a confidentialty agreement and share the formula

we have perfected and give them the results of our testing.

3, How can we protect ourselves in the price points at retail to make sure we get our

fair share of what we have created for them.


Asked on 7/10/10, 10:39 am

1 Answer from Attorneys
Kevin B. Murphy Franchise Foundations, APC

Any attorney will say you need to research the best way to protect your better product - either via a patent or as a trade secret - depending on the best protective mechanism. Have an attorney write up a solid NDA (Non Disclosure Agreement) before discussing anything with anybody. You might consider licensing your product to them, and letting them handle the retailing, with you getting a percentage of sales. Consult with an attorney in your area for specifics.

Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise

Franchise Attorney

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Answered on 7/10/10, 5:44 pm


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