In May of 2013, Forbes.com published an article stating that U.S. entrepreneurship start-up businesses had hit an all-time high of 13% in 2012. It is easy to assume that with the creation and continual growth of the internet, this has helped many individuals launch their own online businesses. However, with this increase in entrepreneurship, it is also very common to hear about business partners fighting over the ownership after a company becomes successful. One of the most recognized company-ownership battles was the lawsuit regarding the Facebook ownership interest between Mark Zuckerberg, his roommate Dustin Moskovitz and the Winklevoss brothers, who had hired Zuckerberg as an independent contractor to develop Harvardconnections.com. The Winklevoss brothers alleged in the lawsuit that Zuckerberg stole their idea and illegally used the source code that they hired him to create for their website.
Starting your own business can be a great step into the right direction of financial success. But not taking the necessary steps during the creation process, implementation of your business or even while it grows, accusations and/or lawsuits regarding ownership rights could be a strong possibility especially if there are independent contractors or friends that are helping you out. Therefore, taking the necessary step to protect yourself and your new company could help eliminate any such potential issues.
So whether you are in the beginning stages of starting a new business or have it moving along successfully, take the important step of making sure your business ideas and information are protected by contacting the highly experienced internet and business law attorneys at Traverse Legal.