How to Protect your Ideas
Now in the age of internet and boom of entrepreneurial spirit, people seek and brainstorm on ways to generate ideas. However, where the problem lies is that not everyone can brainstorm enough to create ideas, but they maraud around to still other people’s ideas.
Ideas are very expensive and if well-nurtured, they become a huge source of wealth, as a result, they should be protected as much as possible.
Nicholai Tesla jumped to his death in sorrows. He made such a decision because Thomas Edison conned him, taking away his invention and getting the patent that should belong to Tesla. Nothing hurts more than seeing one’s idea enrich another person while one wallows in abject poverty and dishonor. This is the reason one should follow the steps below on how to protect one’s ideas.
Don’t Reveal too much of your Idea:
The patent attorneys have warned most firm owners and starters to be wary of revealing too much about their firm to other people. This might sound difficult, especially when you need the help of people around you to win their conviction to assist you. But it is better to be patient than seeing your idea fatten an individual who will watch you die. Once you tell them little about it, they will help if they so wish.
Use Non-Disclosure Agreement (NDA):
The problem about signing this with investors is that they leave you as soon as you reveal your intention on having an NDA signed. Best patent attorneys around the world have recommended that you sign a confidentiality document in print. This might be helpful if an investor doesn’t want to sign an NDA with you.
Patent your Idea:
Though a patent might be quite costly to come by, best patent attorneys have recommended provisional patent to startups. The provisional patent expires after twelve months and there is no way you can extend it, except you want to opt-in for a patent. While it might cost a lot of money to patent your idea, litigation is costly and you might not even end up winning. This is why most patent attorneys recommend that you patent to protect your idea.
Do Necessary Research:
Sometimes, it is necessary to go for relevant research before venturing into business with a contractor, a client or a potential investor. The best patent attorneys have advised that idea owners should seek information as regards investors’ previous disputes with other business owners.
While you might be eager to rush things or your investor might hurry you, you still have to ensure that you document detail and stage of your activities. This will provide you enough evidence whenever you need it. This is in line with the recommendations of most of the best patent attorneys, documentation is protection.
Although it is cool to protect your idea, you don’t have to be too overprotective. This consequence of overprotectiveness is that your idea might not worth a penny yet, but you would not know. It might only need a little suggestion from someone before it becomes the golden idea you wanted it to be. So it is good to apply your wit when matters of sharing or revealing your ideas come up.