Working on a new beverage idea? Asking this one question upfront can spare you a world of roadblocks as you move through its development: Do I own my product’s intellectual property?
By intellectual property, we simply mean the specifics of your drink recipe and how it’s processed. Your beverage has intellectual property in everything from its formulation and ingredients to the suppliers, the batching process, and the analytical data specific to it.
You might be thinking, “Of course I own the rights; the product is mine.” But we see this scenario too frequently: An entrepreneur develops a beverage formulation with a contract manufacturer. Due to various circumstances, they need to switch contractors, and when they ask for the specifics of their product, the contract manufacturer won’t give it to them. They learn that this information belongs to the contractor. The entrepreneur is left with a big headache and a difficult decision. They can incur the expense of buying the intellectual properties of their product from the contractor. Or, they can go back to the drawing board and attempt to reverse engineer their product without the information they need.
It’s a terrible situation to be in, and it’s one we’d like to see you avoid. Headaches mid-production are avoidable by being clear about who maintains the rights to your product. Review your contract specifics carefully. Make sure you know going into the arrangement who owns the rights to the intellectual property of your recipe. If it’s not you, renegotiate upfront!
At WiseBev, we offer you the full intellectual property rights to your beverage and the information related to its creation. We’re clear from the beginning that we don’t own the rights to your recipe – you do. It’s our commitment to giving you everything you need to successfully bring your beverage idea to market.
Need some help in a sticky situation with a contractor, or want to just do it right from the start? We can help you bring your beverage idea to life without cumbersome restrictions. Let’s talk!
