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Release of Ownership of Formulation for Client
Hello All,
I’m new here and in the world of starting my own formulation business. I’ve formulated a pain relief gel for a client and he’s very pleased. He’s now requesting a “Release of Ownership for Formulation” for me to sign and submit to him. I don’t mind giving him the rights to the formula.
What is this form? Is there a form online I can use, tweak, and sign? Has anyone signed this form before? Thanks!
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4 Replies
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I don’t know a specific form although you could probably just write something with your own letterhead to the affect that you give up ownership then sign it.
However, a “pain relief gel” would be considered a drug, so I hope your client realizes this and that you followed FDA guidelines for developing OTC drugs.
https://www.fda.gov/Cosmetics/ResourcesForYou/Industry/ucm388736.htm
Most importantly… “If, however, your products are drugs, or both cosmetics and drugs, they must meet the requirements for drug registration. “
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Hello Perry
Thanks for your comment! Yes, I’ve mentioned to him all the FDA regulation information for the gel.
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What are the active ingredients that provide the pain relief? then we can help you a bit more.
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There is no such “form” … you will need to have an attorney draft an agreement.
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