Keeping New Business Idea Secret From Current Employer.

 
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EarthWindandFire
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Post by EarthWindandFire » Mon. May. 11, 2015 1:27 pm

How does someone keep the intent and actual business creation - discreet and secret from your current employer? For example, just to file the DBA requires a legal name and business address. If my employer were to become aware of my intent, especially in such an early stage where I am just "thinking" about starting a competing business, I would risk termination and possible personal financial trouble. So many aspects of starting a business require openness and leave little room for anonymity. My start-up would require purchasing from many of my current employers vendors. Can anyone offer suggestions?

Thanks!


 
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Post by ONEDOLLAR » Mon. May. 11, 2015 2:38 pm

Mark

Are you bound to any non compete agreements?

 
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Post by McGiever » Mon. May. 11, 2015 2:49 pm

As soon as you have made a contact you feel safe with, do not return to discuss things on the public internet. :idea:

Hopefully you haven't spilled the beans yet by this exposure.

 
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EarthWindandFire
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Post by EarthWindandFire » Mon. May. 11, 2015 3:01 pm

Luckily, my real name isn't EarthWindandFire. ;)

I am not bound by any legal contracts. My concern is keeping this under-wraps until the business is ready to open.

 
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Post by ONEDOLLAR » Mon. May. 11, 2015 3:09 pm

Loose lips sink ships. Don't talk about your venture with anyone sans the wifee poo and might I suggest getting a Mail Boxes/UPS Store address as well.

 
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Post by EarthWindandFire » Mon. May. 11, 2015 3:14 pm

I was thinking the same thing about the UPS mailbox. Great idea!

 
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Post by coalder » Mon. May. 11, 2015 3:30 pm

I would highly suggest you register your business under any name other than your own. Your business will be recorded in County records. Which I don't believe are public record. In other words you have to sign your name under the registered business, Just say "Tarzan vine service". Until you advertise I don't believe you are subject to exposure. Simply find out if these records are public on the internet. My business name is registered as a partnership in Ulster County, NY.
"C&G MASONRY"
Saugerties, NY
I googled it about a year ago & nothing came up; Because I don't advertise.
Good luck
Jim


 
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Post by ONEDOLLAR » Mon. May. 11, 2015 3:41 pm

As J.F. mentions use a business name that is opaque. Like E.W.F Enterprises. Most government records of this type are available to the public if someone asks. That doesn't mean the records are online. The danger of using someone as a proxy....., well you can see that potential landmine.

I assume you are you wanting to start a business similar to the one you current employer operates? That will mean most likely at some point that you will try to go after their customers.

 
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Post by coalder » Mon. May. 11, 2015 3:47 pm

EWF if possible delete this entire thread, as your employer may monitor you from time to time. If he happens to be aware of this forum, and your interest in coal. There are enough of us here now that are aware, & I have no problem with a PM to help out. What do ya say guys???
Jim

 
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Post by coaledsweat » Mon. May. 11, 2015 3:54 pm

ONEDOLLAR wrote:As J.F. mentions use a business name that is opaque. Like E.W.F Enterprises. Most government records of this type are available to the public if someone asks.
Using a name other than your own requires the DBA.

Does this business require a state license?

 
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Post by ONEDOLLAR » Mon. May. 11, 2015 4:02 pm

Coaledsweat

You are correct but using a "generic" or "opaque" name helps hide the nature of the business. That was my point.. :) For all his boss's know EWF is getting into the "Doggie Doo" disposal game. :bag:

 
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Post by nealkas » Mon. May. 11, 2015 4:08 pm

"Three can keep a secret, if two of them are dead." - Benjamin Franklin

 
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Post by Sunny Boy » Mon. May. 11, 2015 4:18 pm

Not sure what your state says, but in NYS, a DBA doesn't have to show your personal name when you use it anywhere except at the bank - which requires a copy of a DBA be kept on file- and with the government tax people.

The "DBA" in the full company stands for "John Doe, Doing Business As, XYZ Company. You only have to use the last part, "XYZ Company" when setting up accounts with other businesses, doing any advertising, getting business cards, or having company checks printed.

I know because the company I own is a DBA and my name only shows up on bank statements and if someone wanted to spend half a life time looking through Suffolk County's records. :shock:

Paul

 
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Post by davidmcbeth3 » Mon. May. 11, 2015 4:42 pm

EarthWindandFire wrote:How does someone keep the intent and actual business creation - discreet and secret from your current employer? For example, just to file the DBA requires a legal name and business address. If my employer were to become aware of my intent, especially in such an early stage where I am just "thinking" about starting a competing business, I would risk termination and possible personal financial trouble. So many aspects of starting a business require openness and leave little room for anonymity. My start-up would require purchasing from many of my current employers vendors. Can anyone offer suggestions?

Thanks!
What statue requires this?

 
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Post by coaledsweat » Mon. May. 11, 2015 5:57 pm

davidmcbeth3 wrote:
EarthWindandFire wrote:How does someone keep the intent and actual business creation - discreet and secret from your current employer? For example, just to file the DBA requires a legal name and business address. If my employer were to become aware of my intent, especially in such an early stage where I am just "thinking" about starting a competing business, I would risk termination and possible personal financial trouble. So many aspects of starting a business require openness and leave little room for anonymity. My start-up would require purchasing from many of my current employers vendors. Can anyone offer suggestions?

Thanks!
What statue requires this?
Not sure of the statute but you face fines and/or imprisonment if you don't. I'm sure that will get you all wound up but it's the law.


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