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View Full Version : How to prevent your idea being stolen?



eitai2001
01-26-2012, 06:48 PM
Hi Guys.

I have what I think is a brilliant idea, which I've run past a few people who think it's brilliant, and based on my research I think it would be a first in the world.

Only problem, it would cost a fortune, and most likely the positioning I would need is taken up by people already ... thus I would have to approach some of the people who are already set up in the positioning I want and try pitch my idea to them.

Will a Non-Disclosure Agreement be good enough to prevent such people (who would probably have huge legal teams) from stealing my idea ... or would I need something else? Obviously they will need to sign before I tell them, so something like a restraint of trade wouldn't go down well with someone who doesn't know what they're being restrained against though.

Any ideas?

Regards

Itai

McT
01-26-2012, 06:58 PM
Your hiccup will be big business, if you are thinking of trying to get a foothold in one of the stores, for example, Woollies and Frankies.

eitai2001
01-26-2012, 07:06 PM
Your hiccup will be big business, if you are thinking of trying to get a foothold in one of the stores, for example, Woollies and Frankies.

I don't quite understand what you mean by my hiccup will be big business?
And it's not so much department stores ... but it would need the participation (ideally) of a worldwide hotel chain, hence big boys.

In anycase, how do I avoid that Hiccup?

Dviance
01-26-2012, 11:04 PM
I think this is the problem allot of people are having where good ideas are not getting heard because of how hard it is to get it to the big boys.

Deadpool
01-27-2012, 07:32 AM
I would recommend you hire a lawyer. Ask them how to proceed on this matter. They will know much more and what to do.
You can also do some research about patenting your idea.

Zarathustra
01-27-2012, 10:37 AM
Depending on where you are located, I can recommend an excellent trademark lawyer.

eitai2001
01-28-2012, 04:56 PM
I think this is the problem allot of people are having where good ideas are not getting heard because of how hard it is to get it to the big boys.

Getting to the big boys isn't necessarily the issue ... that's the nice thing about my job, you meet the big boys :P

eitai2001
01-28-2012, 04:57 PM
I would recommend you hire a lawyer. Ask them how to proceed on this matter. They will know much more and what to do.
You can also do some research about patenting your idea.

Yeah, I've been trying ... but a patent is easily overcome with slight mods.

eitai2001
01-28-2012, 04:57 PM
Depending on where you are located, I can recommend an excellent trademark lawyer.
Thanks man ... I actually do know of a good Trademark lawyer, I just can't afford one :P

mercurial
01-28-2012, 05:18 PM
So in other words, to make money, you need money.

:p

eitai2001
01-28-2012, 05:19 PM
So in other words, to make money, you need money.

:p

Well that is it in a nutshell ... but I need to find the entry path :P

robt
02-01-2012, 10:05 PM
NDA is not worth the paper it's written on - are you really going to be able to fork out money for a legal battle?

eitai2001
02-01-2012, 10:46 PM
NDA is not worth the paper it's written on - are you really going to be able to fork out money for a legal battle?


So then what does a normal human being do?

eitai2001
02-01-2012, 10:46 PM
NDA is not worth the paper it's written on - are you really going to be able to fork out money for a legal battle?

Keeping in mind, not everything can be copyrighted or trademarked.

wamatt
02-02-2012, 09:46 AM
Hi Guys.

I have what I think is a brilliant idea, which I've run past a few people who think it's brilliant, and based on my research I think it would be a first in the world.

Only problem, it would cost a fortune, and most likely the positioning I would need is taken up by people already ... thus I would have to approach some of the people who are already set up in the positioning I want and try pitch my idea to them.

Will a Non-Disclosure Agreement be good enough to prevent such people (who would probably have huge legal teams) from stealing my idea ... or would I need something else? Obviously they will need to sign before I tell them, so something like a restraint of trade wouldn't go down well with someone who doesn't know what they're being restrained against though.

Any ideas?

Regards

Itai

Ideas are 10%. Execution is 90%.

Secondly, if your idea can be copied just by talking about it, then it's not really defensible.

That said, if it's a truly novel invention, you can go the patent route. But really it's often just better to innovate and let the market decide.

Oh and NDA's are worthless.

Goodluck! :)

robt
02-02-2012, 11:59 AM
Ideas are 10%. Execution is 90%.

Secondly, if your idea can be copied just by talking about it, then it's not really defensible.

That said, if it's a truly novel invention, you can go the patent route. But really it's often just better to innovate and let the market decide.

Oh and NDA's are worthless.

Goodluck! :)

Well said :).

NDA's are very tricky to defend and if you have to go to court before the company or idea is up and running it's not worth it. Avoid legal tangles at all cost.

My personal opinion - if you don't trust the people you are dealing with enough to not feel you need an NDA it's best not to work with them.

mercurial
02-02-2012, 12:47 PM
Well, there you have it, from a man who's done it all himself :)

ChilliGirl
02-02-2012, 01:07 PM
So in other words, to make money, you need money.

:p

Neva...! :D

wishblade
02-02-2012, 02:34 PM
So in other words, to make money, you need money.

:p

Well, actually... to make money, you need to have access to somebody else's money. Shouldn't use your own money to fund something that you can get someone to fund :) Lowers your risk... unless the other person is Boris from Russia :D

eitai2001
02-02-2012, 07:46 PM
Thanks for the replies guys, and Matt. Those were my thoughts exactly, especially regarding NDA, that's why I was hoping for something else that I could use, oh well :P

Thing is, my idea isn't an invention, to be more specific, it's a concept bar, definitely a novelty, something that as much as I research, has never been done before (and if it was, it would've got tons of publicity). The problem with the idea, is I will need someone with multiple bars across the world to agree, or at least rental space in top bar areas around the world and lots and lots of money.

Easiest way to get that sorted (well easier said than done), is get a large popular hotel group on board ... and to be honest, this would fit their market perfectly. Only hitch, is once I let them know, there is no reason they can't do it themselves ... so I want to propose the idea that they keep the bars themselves, and lease out my idea in their bars.

Can you patent a concept?

John
02-02-2012, 07:54 PM
I agree that an NDA is not worth it. It wastes time and there are many examples of ideas being stoles even with an NDA in place.

mernst
02-03-2012, 02:30 PM
Thanks for the replies guys, and Matt. Those were my thoughts exactly, especially regarding NDA, that's why I was hoping for something else that I could use, oh well :P

Thing is, my idea isn't an invention, to be more specific, it's a concept bar, definitely a novelty, something that as much as I research, has never been done before (and if it was, it would've got tons of publicity). The problem with the idea, is I will need someone with multiple bars across the world to agree, or at least rental space in top bar areas around the world and lots and lots of money.

Easiest way to get that sorted (well easier said than done), is get a large popular hotel group on board ... and to be honest, this would fit their market perfectly. Only hitch, is once I let them know, there is no reason they can't do it themselves ... so I want to propose the idea that they keep the bars themselves, and lease out my idea in their bars.

Can you patent a concept?

If you want to make money, it's not going to be easy. You need to offer more than just an idea, as someone said earlier, an idea is only 10%, it's the execution that matters.

I'd suggest putting together a proposal, together with funding requirements and very conservative projections (and I mean _very_ conservative, take 10% of your worst estimate), and pitch it to the hotel, or investors who have contacts in the industry, to see if they will fund it.

You need to offer them more than just the idea, and you need to sell it to them as to why you're the best (or only) person/company who can execute it.

eitai2001
02-03-2012, 06:28 PM
If you want to make money, it's not going to be easy. You need to offer more than just an idea, as someone said earlier, an idea is only 10%, it's the execution that matters.

I'd suggest putting together a proposal, together with funding requirements and very conservative projections (and I mean _very_ conservative, take 10% of your worst estimate), and pitch it to the hotel, or investors who have contacts in the industry, to see if they will fund it.

You need to offer them more than just the idea, and you need to sell it to them as to why you're the best (or only) person/company who can execute it.

Yeah, what you say is exactly it. Very true.

But for now, I'm focusing my mind in a field I know a lot more about and for now at a smaller level (I think :p )

Tokenhole
02-07-2012, 12:39 AM
So in other words, to make money, you need money.

:p

Why does that sound strange to you? :confused: