What started out as a family recipe has now launched into a business venture. Your product is unique and popular, and you want to keep it this way.
You’re worried that your market rivals are going to start catching on to your success and trying to poach your recipe. What measures can you take to ensure that this doesn’t happen?
Your recipe may be a trade secret
The recipe that you use has been passed on to your family through generations. It places you at an advantage over all other companies who are trying to make similar products. This means that it could be categorized as a trade secret, and there are ways to protect such insider knowledge.
One of the best ways to do this is by using nondisclosure agreements. With this legal instrument, you can ensure that staff, manufacturers and distributors are obliged to keep the information to themselves, or they risk legal consequences.
Your options if someone has stolen your recipe
If someone is using a recipe that is unique to your business, and you’ve taken legal measures to prevent this, then you may be able to hold them accountable. You could issue the offending party with a cease and desist letter, which instructs them to stop any unlawful activities. If they refuse, then there are a host of other legal options open to you.
The laws regarding intellectual property can be complex. To best protect your business in this area, it may be in your best interests to seek guidance from someone with a wealth of knowledge in the field.