Keeping New Business Idea Secret From Current Employer.

Keeping New Business Idea Secret From Current Employer.

PostBy: EarthWindandFire On: 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!
EarthWindandFire
 
Hot Air Coal Stoker Furnace: Leisure Line Lil' Heater.
Other Heating: Oil Furnace and Kerosene Heaters.


Re: Keeping New Business Idea Secret From Current Employer.

PostBy: ONEDOLLAR On: Mon May 11, 2015 2:38 pm

Mark

Are you bound to any non compete agreements?
ONEDOLLAR
 
Hand Fed Coal Stove: 2014 Chubby Prototype
Coal Size/Type: Nut/Anthracite

Re: Keeping New Business Idea Secret From Current Employer.

PostBy: McGiever On: 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.
McGiever
 
Stoker Coal Boiler: AXEMAN-ANDERSON 130 "1959"
Coal Size/Type: PEA / ANTHRACITE
Other Heating: Ground Source Heat Pump
Stove/Furnace Make: Hydro Heat /Mega Tek

Re: Keeping New Business Idea Secret From Current Employer.

PostBy: EarthWindandFire On: 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.
EarthWindandFire
 
Hot Air Coal Stoker Furnace: Leisure Line Lil' Heater.
Other Heating: Oil Furnace and Kerosene Heaters.

Re: Keeping New Business Idea Secret From Current Employer.

PostBy: ONEDOLLAR On: 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.
ONEDOLLAR
 
Hand Fed Coal Stove: 2014 Chubby Prototype
Coal Size/Type: Nut/Anthracite

Re: Keeping New Business Idea Secret From Current Employer.

PostBy: EarthWindandFire On: Mon May 11, 2015 3:14 pm

I was thinking the same thing about the UPS mailbox. Great idea!
EarthWindandFire
 
Hot Air Coal Stoker Furnace: Leisure Line Lil' Heater.
Other Heating: Oil Furnace and Kerosene Heaters.

Re: Keeping New Business Idea Secret From Current Employer.

PostBy: coalder On: 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
coalder
 
Hand Fed Coal Boiler: harman sf 160
Coal Size/Type: Nut
Other Heating: wood parlor stove

Re: Keeping New Business Idea Secret From Current Employer.

PostBy: ONEDOLLAR On: 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.
ONEDOLLAR
 
Hand Fed Coal Stove: 2014 Chubby Prototype
Coal Size/Type: Nut/Anthracite


Re: Keeping New Business Idea Secret From Current Employer.

PostBy: coalder On: 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
coalder
 
Hand Fed Coal Boiler: harman sf 160
Coal Size/Type: Nut
Other Heating: wood parlor stove

Re: Keeping New Business Idea Secret From Current Employer.

PostBy: coaledsweat On: 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?
coaledsweat
 
Stoker Coal Boiler: Axeman Anderson 260M
Coal Size/Type: Pea

Re: Keeping New Business Idea Secret From Current Employer.

PostBy: ONEDOLLAR On: 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:
ONEDOLLAR
 
Hand Fed Coal Stove: 2014 Chubby Prototype
Coal Size/Type: Nut/Anthracite

Re: Keeping New Business Idea Secret From Current Employer.

PostBy: nealkas On: Mon May 11, 2015 4:08 pm

"Three can keep a secret, if two of them are dead." - Benjamin Franklin
nealkas
 
Hot Air Coal Stoker Furnace: Looking at these.
Other Heating: Oil at present.

Re: Keeping New Business Idea Secret From Current Employer.

PostBy: Sunny Boy On: 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
Sunny Boy
 
Hand Fed Coal Boiler: Anthracite Industrial, domestic hot water heater
Baseburners & Antiques: Glenwood range 208, # 6 base heater, 2 Modern Oak 118.
Coal Size/Type: Nuts !
Other Heating: Oil &electric plenum furnace

Re: Keeping New Business Idea Secret From Current Employer.

PostBy: davidmcbeth3 On: 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?
davidmcbeth3
 
Coal Size/Type: nut/pea/anthra
Stove/Furnace Make: Hitzer
Stove/Furnace Model: 503

Re: Keeping New Business Idea Secret From Current Employer.

PostBy: coaledsweat On: 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.
coaledsweat
 
Stoker Coal Boiler: Axeman Anderson 260M
Coal Size/Type: Pea