Protecting Your Ideas, In A World Where Ideas Mean Money (Part 2).
The first thing to remember is that, you are not the first person to have a new idea, even if your idea is the first of its kind. So there are well set out, and well established procedures, for the protection of inventions, and business ideas. It is your job, to find out, these things, if you want to become a serious business person, that will become a regional or continental player, and one day even global.
One of the most important things you do when you set up any business, is to get to know a good lawyer, and to build a relationship with that lawyer. You do not get a lawyer, because you are in trouble with the law, or in a dispute.
Most of the work of lawyers, in businesses has nothing to do with disputes, and courts. So, if you are in business, go find a lawyer today; tell them you are not in any trouble, but you need them because you are planning to grow into a serious business, one day. This is wise counsel.
When I bought my first car, it was always breaking down, because it was a second hand. I can assure you, that in those days, amongst my friends, was always a motor mechanic. If you are a business person, and you do not count a lawyer amongst your friends, then you are not yet ready for the big time.
When your business is small, you can also find lawyers, who are also just starting out. Or even young lawyers who are happy to give you advice in the evenings. Develop a habit of always running, what you are planning to do past a lawyer friend.
When it comes to the protection of ideas, most commercial lawyers, will be able to tell you what to do, and many of the standard agreements, that you need to have can even be obtained Online. It is not a complicated area of the law and even a young lawyer, will be able to help you.
When we sit down to discuss with banks, and investors, or even potential partners, the first thing we do is to exchange agreements, that protect both sides, from theft of ideas, by the other party. I will never, ever, discuss anything with anyone, that I am planning to do, with whom, I do not have such agreements, in place:
I know the value of my ideas!
The first thing is to be discrete. If you are working with others, then you must all sign agreements, in which you agree not to take the idea, to other people, outside your circle, without consent of all the partners, in the project. If you find someone resisting such a proposal, then they probably have other ideas, on your ideas, and you have to be wary.
Always investigate to see if someone else, has already done it, and if they have a patent to protect the idea, including copy writes. In today's world of the Internet, this kind of information can be readily obtained Online.
Quite often you will find that someone else has been working on something, don't just copy it, but approach them to see how you can work with them, for your own market. To simply take, their idea, and proceed to execute it, is at best theft,and could land you in hot water.
A modern business today, no matter how small, should always be structured in a way, that enables it to be constantly innovative. I do not mind saying this; in our organization, the fastest way to get my personal attention is to show that you are entrepreneurial and innovative.
One of the great mysteries in the world of discoveries, and inventions, is that every great idea, has more than one person working on it, even if they do not even know about each other. So, if you have an idea, don't waste time!
If you foolishly tell others, what you are planning, and then later find someone has implemented it, never say it was stollen...... you gave it away!
The End.
The first thing to remember is that, you are not the first person to have a new idea, even if your idea is the first of its kind. So there are well set out, and well established procedures, for the protection of inventions, and business ideas. It is your job, to find out, these things, if you want to become a serious business person, that will become a regional or continental player, and one day even global.
One of the most important things you do when you set up any business, is to get to know a good lawyer, and to build a relationship with that lawyer. You do not get a lawyer, because you are in trouble with the law, or in a dispute.
Most of the work of lawyers, in businesses has nothing to do with disputes, and courts. So, if you are in business, go find a lawyer today; tell them you are not in any trouble, but you need them because you are planning to grow into a serious business, one day. This is wise counsel.
When I bought my first car, it was always breaking down, because it was a second hand. I can assure you, that in those days, amongst my friends, was always a motor mechanic. If you are a business person, and you do not count a lawyer amongst your friends, then you are not yet ready for the big time.
When your business is small, you can also find lawyers, who are also just starting out. Or even young lawyers who are happy to give you advice in the evenings. Develop a habit of always running, what you are planning to do past a lawyer friend.
When it comes to the protection of ideas, most commercial lawyers, will be able to tell you what to do, and many of the standard agreements, that you need to have can even be obtained Online. It is not a complicated area of the law and even a young lawyer, will be able to help you.
When we sit down to discuss with banks, and investors, or even potential partners, the first thing we do is to exchange agreements, that protect both sides, from theft of ideas, by the other party. I will never, ever, discuss anything with anyone, that I am planning to do, with whom, I do not have such agreements, in place:
I know the value of my ideas!
The first thing is to be discrete. If you are working with others, then you must all sign agreements, in which you agree not to take the idea, to other people, outside your circle, without consent of all the partners, in the project. If you find someone resisting such a proposal, then they probably have other ideas, on your ideas, and you have to be wary.
Always investigate to see if someone else, has already done it, and if they have a patent to protect the idea, including copy writes. In today's world of the Internet, this kind of information can be readily obtained Online.
Quite often you will find that someone else has been working on something, don't just copy it, but approach them to see how you can work with them, for your own market. To simply take, their idea, and proceed to execute it, is at best theft,and could land you in hot water.
A modern business today, no matter how small, should always be structured in a way, that enables it to be constantly innovative. I do not mind saying this; in our organization, the fastest way to get my personal attention is to show that you are entrepreneurial and innovative.
One of the great mysteries in the world of discoveries, and inventions, is that every great idea, has more than one person working on it, even if they do not even know about each other. So, if you have an idea, don't waste time!
If you foolishly tell others, what you are planning, and then later find someone has implemented it, never say it was stollen...... you gave it away!
The End.
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