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Damage control: Did I just give someone my idea?

OlliOlli subscriber Posts: 1
edited November 2014 in Protecting Your Ideas
Hi all,

Basically, based on my life experience I noticed a particular problem & market to do with accomodation. My thought is a management approach, which with a few changes to the current service can double the yield on that service.

As I sit here head in palm, I've realised that I may just have given the idea away to two of the most capable people to implement the idea. I only realised when I saw (what I thought was) their eyes light up when I explained it. We made no agreement. I was interviewing them for an unrelated project for uni. It was the first and only time I've met either of them. They seem like nice guys, but nonetheless other than the idea I'm pretty much useless - and they have all the resources to pursue the project...

Has anyone had similar experience? Any advice on how to approach the situation? Anyone know if it would stand in terms of IP law?

Thanks
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    RadioConsultantRadioConsultant subscriber Posts: 21 Bronze Level Member
    It is not really easy to manoeuvre between "conveying the benefits" and "giving away the whole idea for free"...
    Prepare a short description of your idea (maybe prepare some business plan), join start up community and try to sell it to VCs or Business Angels. Be faster then them.
    On the other hand when you explained all the details - there is a slight chance that they are already working on the solution and execution.
    SIRSoft: Small business consulting http://www.sirsoftconsulting.com
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    AriannaPhillipsAriannaPhillips subscriber Posts: 1 Member
    If you can describe you idea, the details on how to implement them and how to use your idea, as well as other technical solutions, I suggest that you file a provisional patent application immediately. This will give you a sort of pending patent application and anyone who will file a similar patent after you did will have a very difficult time getting its patent to be granted. The USPTO grants a patent on a first-to-file basis.
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