New IP, help from friends?

This is a discussion on New IP, help from friends? within the Intellectual Property Law Questions forums, part of the Legal Questions & Answers Forum category; I'm trying to create a new IP (a fantasy world), and my friends all wish to help. I mean to sell books written in this world some day, and I ...

Results 1 to 4 of 4
  1. #1
    Junior Member
    Points: 7, Level: 1
    Level completed: 13%, Points required for next Level: 43
    Overall activity: 0%

    New IP, help from friends?

    I'm trying to create a new IP (a fantasy world), and my friends all wish to help. I mean to sell books written in this world some day, and I don't know if I can accept their help, without giving them a share of the profits. What should I do to keep sole ownership of the IP, while allowing them to contribute?

    Last edited by Cyber_Donkey; 07-08-2012 at 09:57 AM. Reason: Additional info.

  2. #2
    Administrator
    Points: 69,993, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 0%
    Achievements:
    Created Blog entryOverdriveTagger First Class50000 Experience PointsVeteran

    First of, I've got a couple questions to understand better. Do you want to create a new form of IP, as in you want to create a new, original work in the form of a book like Lord of the Rings, or a video game, or an online fantasy world community of sorts?

    Second, your friends would like to help you because they're excited about what you're proposing? Have they said how they would like to be involved? Are they wanting to be partners, but you're wanting them to be contributors in another way?

    There are many times when an owner or creator of a new work or project hires friends or other contributors to be a part of the project. If you want to own the intellectual property, then the best way would be to hire your friends. You could incorporate (either with an LLC or an inc.) and make it clear that you'd like to run this as a business. But there are a couple things to watch out for.

    Sometimes when you talk with friends, they begin to be excited about a new idea for a business, or for some other type of project like you're proposing here. They begin to feel ownership in the idea because they're involved in the early stages. Many times their interest is less enduring than the original creator's vision, so it isn't a big deal to involve them. However, sometimes a friend or other contributor will begin to take more and more of a vested interest approach in the project or business and begins to feel entitled to having ownership in the final product. To make sure that everyone is clear, it is good to discuss these things early on. You don't want to lose friends over something like this, but you do want to be clear so that you're less likely to run into misunderstandings and ill feelings later regarding the business or project.
    Legal Disclaimer: Answers to questions on this forum are for informational and educational purposes only and do not constitute Legal Advice. No attorney-client relationship is established through this forum.

  3. #3
    Junior Member
    Points: 7, Level: 1
    Level completed: 13%, Points required for next Level: 43
    Overall activity: 0%

    Edit: Almost forgot, thank you very much for your reply!

    "First of, I've got a couple questions to understand better. Do you want to create a new form of IP, as in you want to create a new, original work in the form of a book like Lord of the Rings, or a video game, or an online fantasy world community of sorts?"

    Yes, it's like the Lord of the Rings type of world, I want to eventually write books for it, and allow others to do the same. But right now, I'm working out the background details of the actual world the books would take place in.

    "Second, your friends would like to help you because they're excited about what you're proposing? Have they said how they would like to be involved? Are they wanting to be partners, but you're wanting them to be contributors in another way?"

    Yes, they're excited by what I'm proposing, and have said they would like to add to my world. They want to do back stories for races I plan to implement, create their own races (like their own sentient species for use in my world, like elves or dwarves in LotR), and they'd like to assist me with ideas as well. None of them have asked to be partners, nor have any of them asked for compensation of any sort. I just know that without contracts between friends, friendships end, and projects tend to fall apart. I've seen it happen in other instances.

    "There are many times when an owner or creator of a new work or project hires friends or other contributors to be a part of the project. If you want to own the intellectual property, then the best way would be to hire your friends. You could incorporate (either with an LLC or an inc.) and make it clear that you'd like to run this as a business. But there are a couple things to watch out for.

    Sometimes when you talk with friends, they begin to be excited about a new idea for a business, or for some other type of project like you're proposing here. They begin to feel ownership in the idea because they're involved in the early stages. Many times their interest is less enduring than the original creator's vision, so it isn't a big deal to involve them. However, sometimes a friend or other contributor will begin to take more and more of a vested interest approach in the project or business and begins to feel entitled to having ownership in the final product. To make sure that everyone is clear, it is good to discuss these things early on. You don't want to lose friends over something like this, but you do want to be clear so that you're less likely to run into misunderstandings and ill feelings later regarding the business or project."

    Yes, this is exactly what I'm trying to avoid. I want to create some sort of document claiming ownership of the IP, that allows them to contribute. I do plan to hire them as writers once the actual background is finished, as I would really like them writing books in this setting. I'm just not prepared to start a business when the final product is not nearly complete.
    Last edited by Cyber_Donkey; 07-08-2012 at 09:18 PM. Reason: Bad Manners.

  4. #4
    Junior Member
    Points: 51, Level: 1
    Level completed: 2%, Points required for next Level: 49
    Overall activity: 26.0%

    Yes, exactly you should avoid it to test.It would be nice to test this.


 

Similar Threads

  1. Our Common Law Friends in the UK
    By Cahoonzie in forum Suggestions, Comments
    Replies: 1
    Last Post: 05-22-2012, 07:11 AM