How Can You Transform an Idea into a Business?
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There are a couple of things you want to do to transform your idea into a viable business.
The first is to incorporate. Once you do that, you’ve created an official, formal, legally-sanctioned structure for your enterprise. You want to look at the various packages online, consult with your attorney and accountant and figure out how to put together the best structure for your business.
Secondly, you want to protect your intellectual property. You want to take your creativity, your brain power, all of your good ideas, and make sure that you have some legal protection, whether through copyright, trademark, trade secrets or patent law.
Thirdly, you want to get your business contracts together so that your suppliers, key vendors, customers, distributors, agents and everyone with whom you do business have a legally-binding agreement that spells out everybody’s rights and obligations. A little bit of advance legal work up front can save you a lot of trouble down the road.
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