WE'VE MOVED!

We are proud to announce our NEW community destination. Engage with resident experts and fellow entrepreneurs, and learn everything you need to start your business. Check out the new home of StartupNation Community at startupnation.mn.co
Options

protecting my idea

dreshanyfedreshanyfe subscriber Posts: 2
edited August 2007 in Protecting Your Ideas
Hi everyone, I am new to startup nation but I am really thrilled to see such an awesome site!  I am not sure where to put this post, so I figured I would start here.The idea I have, is not my own; I did not invent the product.  I would like to import or offer an innovative product to a rather large company.  In fact, I have all ready contacted them and they would like to know more about what I have to offer.  My problem is, how do I discuss this with them without them stealing my idea and doing it on their own?  I doubt they would be willing to sign an agreement.... I am at a loss for what to do, Help
· Share on FacebookShare on Twitter Share on Google+

Comments

  • Options
    pepperlegalpepperlegal subscriber Posts: 2 Member
    This is a classic dilemma faced by many start-ups or small businesses.  Although a non-disclosure agreement is certainly helpful and advisable, it is no substitute for using sound business sense.  Disclose only what you need to, but hold back enough information to prevent the company from doing it themselves without your help (i.e., only "show them a knee").  pos
    · Share on FacebookShare on Twitter Share on Google+
  • Options
    dreshanyfedreshanyfe subscriber Posts: 2
    aahhh good advice, Thanks!
    · Share on FacebookShare on Twitter Share on Google+
  • Options
    johnqhjohnqh subscriber Posts: 4
    Unfortunately, you cannot really protect an "idea".
    Think of it the other way - if you get your business started, what prevent others from copying you and start a business to compete against you next door?
    If it can be protected (patent, copyright etc) legally, use it. If not, then you have to look at other things. Maybe it is your supplier who can do it better and cheaper than anyone else. Maybe it is an internal process which enables you to offer it cheaper. Whatever it is, you need to protect it... that means, don`t share it so easily. You can tell city and county what you want to offer, but there is no need to explain the details on how you do it.
    If you cannot think of any competitive advantage, the only thing left is brand name. If you can get to the market early, maybe you can establish a strong brand before competition appears. However, this requires strong marketing from the beginning and may not be feasible for small businesses.
    · Share on FacebookShare on Twitter Share on Google+
Sign In or Register to comment.