How Do You Protect Your Business Ideas?

Coming up with a viable, concrete and feasible business idea is not child’s work. It requires a lot of logical thinking, calculations, adjustments and re-adjustments. Once the idea has been put into place and it seems to thrive, other people will always come up and try to steal that idea away from you and probably make lots of money from it. This is in no way fair and that is why it is important to protect your ideas. How do you do it?

One of the ways you can to do that, is to collect all your ideas and put them in writing. Then have the book signed by you and another person who acts as a witness to the fact that the ideas are originally yours. Make sure to put a date also. The person who acts as your witness should be a person who has got authority in society, for example a lawyer. Once this is done, be very careful whom you allow access to that book or whom you disclose your ideas to.

You could also protect your ideas by putting a patent on them. You can do this by filing a provisional patent with the United States Patent and Trademark Office. This is an organization that protects people’s ideas by making it clear to the public that duplication of those ideas through photocopying or any other means is punishable by law.

Before you can adopt the above methods, you may need to consult a mentor, who will give you the advantages and disadvantages of so doing. You might find that, he could come up with better ideas for you instead of going your way. For example, he could suggest that, you choose to make a demo or market research of your products and then turn your ideas into projects that will not only help your ideas grow, but will also earn you an income.