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Company ownership at center of business contract dispute

Good ideas are one of the forces which propels the economy. This is why it is important when a person has a business idea that he or she should be able to profit from the idea without worrying about somebody else stealing the concept. However, there are many times when ownership of a business concept is not clear. This seems to have been the case in a recent business contract dispute in California.

The dispute surrounds a new technology company which is set to start an online network in 2014. The online network will be aimed at connecting caregivers to families who need their services. This allows families to bypass standard home care agencies. The business dispute surrounds who founded the company and who thought of the original business concept.

The media has credited a web developer as being the founder of the new technology company known as CareMonk. However, one former business partner is claiming that he was the one who first proposed the concept to the web developer. The former business partner filed a lawsuit against the company in early December alleging breach of contract, misappropriation of trade secrets, unfair competition and a variety of other allegations included in the complaint filed with the court.

This case in California illustrates how important a solid contract can be when doing business with other individuals or companies. When legal contracts are comprehensive, it can help prevent having to deal with a future business contract dispute. However, it is essential that the legal contract is properly drafted to avoid having the contract challenged in court.

Source: Sacramento Business Journal, Lawsuit challenges who came up with caregiver network, Kathy Robertson, Dec.13, 2013

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