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can you legally sell a marketing idea ?

by Riddley Walker
10 replies
If you've got a great idea to sell a product, how can you benefit if the product isn't yours ?

Background
A business friend of mine does , let's call it a promotion, annually. Up until now there has always been spare capacity for this. I know of a killer method to promote his product which will make him a lot more money, but I'm not gonna give it away for nothing.
What is the best way for us both to benefit ?
Any advice appreciated

P.S.
He is ok with signing something on a legal basis.
#idea #legally #marketing #sell
  • Profile picture of the author DeadGuy
    I obviously cannot give you a legal opinion, but I can tell you what I do here in the States. This sounds like a perfect application for a Non-Disclosure of Proprietary Information legal document. This would protect your idea and provide a sound business basis for a working relationship with your friend. You will need to check with your own legal counsel in your country for details of something similar.

    If your idea involves a true "business methodology", you might have a shot at some sort of legal protection. It should be said, however, that it is nearly impossible to legally protect a generalized concept.
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    You are making this work at home stuff way harder than it is. Ready for some sanity? Clear your head and start over.

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    • Profile picture of the author rosetrees
      Could you come to some kind of affiliate arrangement with your friend? So that you implement your idea and send customers to your own website with an affiliate link?
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      • Profile picture of the author jsdgalyean
        Hi Riddley!

        You can legally sell an idea, but there's no guarantee that the person you sell it to won't sell it to someone else.

        Why don't you just have your friend pay you to implement your idea....then, you don't have to tell him your "secrets"...just provide him with results!

        Jennifer
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        • Profile picture of the author Riddley Walker
          hi Jennifer.

          All responses to my question are really appreciated.
          I couldn't keep the "method" a secret due to the nature of the marketing that would be employed. He has already offered a 10% comission , which could mean anywhere between £2000 and £24000 to me. There is no way , he would just give me a lump sum. My idea is to use the method and make the sales and give him the 90%. As this is an annual event then what I'd like to do is to secure the "method" for future events.
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      • Profile picture of the author Riddley Walker
        Originally Posted by rosetrees View Post

        Could you come to some kind of affiliate arrangement with your friend? So that you implement your idea and send customers to your own website with an affiliate link?
        In essence I would be an affiliate. What I'm trying to do though is to secure some exclusivity for bringing the marketing method to the table, to prevent him or others, from copying the method for that business.
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        • Profile picture of the author Loren Woirhaye
          Originally Posted by Riddley Walker View Post

          In essence I would be an affiliate. What I'm trying to do though is to secure some exclusivity for bringing the marketing method to the table, to prevent him or others, from copying the method for that business.
          You can get your friend in a contract to not disclose or share
          your idea, but you'd better have very deep pockets if you think
          you'd like to prevent others from reverse-engineering the method
          and using it. You'll have to sue competitors who knock you off
          and you'll probably either run out of money doing it or just
          plain lose your case.

          You can copyright videos, songs, written content, graphics and so
          forth but you cannot copyright an idea. Inventors often suffer
          from the crippling paranoia that others will steal their ideas -
          pure foolishness but there it is. You'll have to get over it and
          start branding yourself as an idea man to command higher prices
          for your ideas, but in terms of protecting your concepts from
          imitation you'd be tilting at windmills unless you had something
          genuinely patentable. Still, having a patent won't prevent
          knock-offs, it just gives you legal ammunition to try to
          stop the imitators.

          I'm not a lawyer or an expert really, but I've read some books
          and been in the game for a bit. A good book about inventing
          (and licensing) ideas is "How To License your Million Dollar Idea"
          by Harvey Reese.

          Bob Serling has a big-ticket course about licensing inventions
          and marketing systems. For a lot of businesses paying for the
          license is cheaper and easier than creating a knock-off anyway.
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  • Profile picture of the author Scott Murdaugh
    I know of a killer method to promote his product which will make him a lot more money, but I'm not gonna give it away for nothing.
    What is the best way for us both to benefit ?
    Any advice appreciated

    P.S.
    He is ok with signing something on a legal basis.
    Partner up with him.

    Track the sales you make and decide on a fair profit share.

    I've had a few partnerships with a bunch of different products (both on and offline) that worked out great doing exactly this.

    -Scott
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    Over $30 Million In Marketing Data And A Decade Of Consistently Generating Breakthrough Results - Ask How My Unique Approach To Copy Typically Outsells Traditional Ads By Up To 29x Or More...

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    • Profile picture of the author Riddley Walker
      @ Scott
      thanks , and i can see how that would work, but the P word (partnership) leaves a very, very bad taste in my mouth. I need something legal .
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  • Profile picture of the author Riddley Walker
    really appreciate everyone's input. You've all given me food for thought. I'll be getting some legal advice tomorrow.
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  • Profile picture of the author elyshemer
    In a nut shall, I would say a non-disclosure agreement would protect your idea.
    BTW - 10% sounds to me too low a number. After all, if it wasn't for you those sales would not have been made, would they? Push for a higher percentage.

    Wishing you lots of success with this project!
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