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GWarren For Business & Nonprofits, Attorney
Category: Business Law
Satisfied Customers: 355
Experience:  30 yrs Counsel, AVP Corp Governance Fortune 100 finance/ins, Nonprofit Bds, law firm. OH NJ license
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Good afternoon Im an individual who created a candy drop

Resolved Question:

Good afternoon: I'm an individual who created a candy drop that moisturizes dry mouth and throat. I am not a professional and simply created this to help my mom when she was receiving chemo and radiation treatments for her throat cancer. It worked very well for her and I was wondering what it would take for me to market this item, protect myself from lawsuits and plese the IRS. Thank you. Kit
Submitted: 5 years ago.
Category: Business Law
Expert:  GWarren For Business & Nonprofits replied 5 years ago.
Thank you for contacting justanswer.



The assessment phase researching the potential for a new product you would market is typically crucial to success. You may want to view websites for potential competitors, their products, marketing approaches and whether their product may be substantially similar to the candy product you would offer.



You may also find it helpful to talk with local cancer agencies and heath care providers, oncologists, etc. regarding the potential comfort and assist your product may offer as well as their receptivity to it. They may also be able to suggest appropriate and sensitive marketing approaches. For example, you may find that it may be best to offer your product through an existing company that already offers similar such comfort products rather than build and promote your own.



SCORE, Counselors to America's Small Business, at http://www.score.org can provide local face to face or online free assistance with the potential start-up and investigation of your business. SCORE counselors are experienced business persons who can offer guidance as to formation of a company (corporation or Limited Liability Company) to protect you personally from activity and financial liability, assist you in your development of a business plan (tools are also available online to develop business plans or at your local library). Financing options even SBA loan guarantees may be potentials.



To form a company to protect you from personal activity and financial liability (please see:



http://www.cyberdriveillinois.com/departments/business_services/home.html



Once you have formed a company under Illinois corporate laws, you can file with the IRS for an employer identification number:



http://www.irs.gov/businesses/small/article/0,,id=98350,00.html



Since you will be promoting a food candy product you may want to contact the US Department of Agriculture Food and Drug Administration for guidance as well:



http://www.fda.gov/food/default.htm



I hope this information is helpful and responsive to your question. If you would like further clarification, please let me know. There are companies that will help develop and market new inventions such as yours, however, please carefully research them and any costs involved to ensure your protection and that of any investment you may make in that regard.

GWarren For Business & Nonprofits, Attorney
Category: Business Law
Satisfied Customers: 355
Experience: 30 yrs Counsel, AVP Corp Governance Fortune 100 finance/ins, Nonprofit Bds, law firm. OH NJ license
GWarren For Business & Nonprofits and 4 other Business Law Specialists are ready to help you

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GWarren For Business & Nonprofits
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30 yrs Counsel, AVP Corp Governance Fortune 100 finance/ins, Nonprofit Bds, law firm. OH NJ license