A familiar story that the emergence of Facebook as a social network was involved in a controversial legal battle where his creator was accused and sued for plagiarism of the idea by your friends and college classmates who, they claimed, gave life to the business idea.
By the way, it costed Mark Zuckerberg several million dollars. And it has always been said that one thing to have the business idea and quite another to execute that idea. And although it sounds like a cliché, in real life every entrepreneur must make that leap to shape his idea and turn it into a business plan to finally achieve build a real company that works and generate profits. However, this process can spend any amount of time while we gather the resources and appropriate to begin working conditions. And that’s when the questions arise: how I can protect my business idea? How I can tell my friends about it without exposing me to steal?
This is usually a common fear that plagues many entrepreneurs and certainly is a totally valid fear. So here I share some practical suggestions for protecting your business idea of those ” pirates ideological “marauding all pairs and have more resources (or longer) could at some point run out and run it. So avoid unpleasant surprises and follow these,
4 Tips to protect your business idea
1. Make a confidentiality agreement
The first natural tendency is to avoid comment to anyone about your business idea, but it could be a two-edged sword because finally you did much value in talking about it with people experienced in business, innovative people and potential investors who could provide very accurate points about the viability of the firm view. So maybe when we held a meeting to discuss the idea, it is advisable to accompany a document entitled “confidentiality agreement” and is nothing more than a contract where people are committed to respecting the details of the project and that at any moment you could protect against any eventuality arising. This is usually a legal document character confidence that any lawyer can help you write.
2. Get a patent.
If your business idea has to do with the invention of a product, the alternative is to patent it. The patent is an exclusive right to market a product or manufacturing process for a renewable term each period of time, during which would have the power to prevent someone else can commercially exploit the product unless it has a license. You can always get a patent your invention is truly unique, original and add some value to the manufacturing technique. Much more unique your product, the more likely you will get the patent. To get it you must approach the institutions responsible for the protection of Intellectual Property in your city where you will advise on procedures, procedures, territorial validity and other applicable legal limitations you can do the registration in the best way.
3. The best way to protect an idea, it is implementing it.
“Investors do not invest in ideas, they invest in people who can execute those ideas.”
We must accept it, even with all the mechanisms discussed there is no 100% safe way to protect a business idea. The best and only way to protect an idea is executing it. The reason why someone would be able to steal your idea is not only a matter of ethics. It’s a matter of business. And precisely that was the justification of Mark Zuckerberg in the case of Facebook. What is left are ideas and people who have them. What is needed are real entrepreneurs who can execute and what investors looking to do business.
4. Be indifferent of large corporations.
As for large companies, it will surely be surprised how little are likely to steal ideas. These corporations prefer that you as an entrepreneur take the chance to test whether the idea works, you find the team of people that run and you find your first customers. They want to see how feasible it is to make money with this business idea . And once you get over it all then the chances that could make a proposal to buy your company. For them it is more convenient and economical to buy the innovations of small entrepreneurs who invest in own developments.
It takes into consideration that we can all generate ideas for business, but this does not mean that all ideas be viable or that all persons executed as such. So if you have a good idea you think might have commercial success, the most convenient will give you all the momentum to your project to run in the short term. If you need specific advice to protect it is advisable to go with a business incubator where their consultants are open to respect your written confidentiality agreement and commit therefore not to disclose or use in any way your information. Especially if you think your project has great potential, should proceed as soon as possible to implement it. If you’re good, do not worry. Hardly anyone steal your business idea. On the contrary, many will try to help you to succeed. If you are not good, then instead of wondering how to protect my business idea? You have to ask how I can be of more value in the market? and how I can bring my ideas to their best execution?