If I have a great idea for a business how do I protect it while I'm gathering information to develop ?

Question

If I have a great idea for a business how do I protect it while I'm gathering information to develop ?

Answer 1

whats the idea?

Answer 2

Depends on wht the idea it is?  

Answer 3

Don't tell anyone. Once you show your product or idea publicly, you become ineligible for a patent.

Otherwise, simple discretion should be enough.  

Answer 4

If your idea is a patentable invention, then you should keep it confidential, disclosing it only under a confidentiality agreement. Processes, machines, articles of manufacture, and compositions of matter are patentable if novel (unique), useful and nonobvious (existing things can't easily be combined to create it).

If it is patentable, the first thing you should do is document your idea (ie. write it down). And by write it down, I don’t mean a sentence or two. Sure, that is fine at 2:00 in morning when the light bulb goes on. But, as soon as reasonably possible you need to write something called a patent disclosure. It doesn’t need to be a novel, but take some time to think through some of the details, including how your device is made. And even if you can’t draw more than stick figures, make a few sketches. Ideally, this is done in a bound notebook with pre-number pages which are available in any office supply or stationary store. The written description should enable someone with expertise in the field, to make and use your product. Every time you work on your device, note it in your notebook, with dates. Update your notebook with new entries relating to any new developments, analyses, tests, results and descriptions of prototypes. Have at least one independent party witness your notebook entries with their signature and date.

When you are ready to file a patent application, you may want to file a provisional patent application with the U.S. Patent & Trademark Office (www.uspto.gov). The provisional application fee is only around $100. The provisional application will give you 1 year before you need to file a full application. So, it doesn't replace the application, just delays the expense of a full application. It is important that you prepare the application in the proper way and with good attention to detail. There is a good book; "Patent it yourself" by Pressman.

If your idea is not patentable but just a business concept or idea, you can't really protect it.  But, you'll never get it off the ground unless you talk to people. Do you have the background the carry the idea out? If so, most business people are not out to steal ideas and can be helpful. Get recommendations and network with people that have good backgrounds. If you don't have the background you need, try to network with people to find a partner or two that compliment your background. Obviously, you'll need to tell them your idea at some point. Good luck.

Answer 5

Keep it to yourself as much as possible. Try and get as big a lead over any potential competitors (barriers to entry). If it is an idea you could get evidence of copyright or if an invention then patent, although that might be outside your financial grasp. Don't trust anyone. They will nick the idea as quick as anything. Hope it is as great as you think!