The well known quote from unknown author says that “Ideas can be life-changing. Sometimes all you need to open the door is just one more good idea.” Even a small great idea can change life of millions of people if implemented correctly but it is very important for SMBs to protect them from competitors. Here I would like to discuss 15 important steps that I learned from entrepreneur around me.
- First and very important step is, DO NOT REVEAL your idea with anyone until you have some strong research and confidence in your ideal that can be implemented in reality.
- It is always advisable to put all your designs, notes, research work, drawings etc in INVESTOR’S JOURNAL. I found that many scientist, writers, or researchers doing same thing. You can also sign them by witnesses.
- If you have to disclose your idea with someone, better you use a confidentiality or non-disclosure agreement.
- If your idea is very unique, filing a patent can help a lot to secure your hard work. The process of filing a patent varies from country to country. If you are from USA, you can find more information about filing a patent and trademark registrations details at their official website: http://www.uspto.gov/
- Check the Federal Trade Commission (FTC) list of unscrupulous firms and avoid such organizations or firms business partnership.
Have you ever faced this problem? What steps you took to protect your great idea till execution. Share in comments.
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