Franchise Business Idea Theft Rare
From StartupJournal | Startup Q&A:
"Question: I have an idea for a franchise that will take off like Starbucks. Should I consult my attorney first? What if he steals my idea? What should I do next?
-- Carter, Centerville, Ohio
Carter: Whether your attorney will steal your idea should rank pretty low among the worries and challenges you'd face if you pursue this.
Should you consult with an attorney before franchising a business concept? Yes, before launching any serious business you'd be smart to confer with your attorney and accountant. And if you're considering a franchise, you should find and retain someone with experience in that specific area, with its many standards regarding how franchisees and franchisers interact.
But theft of intellectual property by lawyers is rare...In fact, the theft of a concept such as you are contemplating is rare, and for good reason. It's not likely to be worth much in the idea stage. It's the execution -- manufacturing the product, hiring good employees, hatching a smart marketing strategy -- that creates value."
