You've got an EXCELLENT Idea! Now What?
by Mike Banks Valentine
Q: How do I protect an idea before I do any thing else with it?
A: This is a very difficult place to be in, I've had ideas that
I've been interested in approaching a client about, but can't until
I actually enter a contractual relationship with them. The key is
to have signed agreements that state your intellectual property
rights or product design patent or design copyright and trademark.
Ideas are delicate and powerful at the same time. Delicate, in that
they can disappear with a puff of smoke as you get new information
and powerful in that they can literally change the world!
I've prepared a page at my own site to discuss incorporation at
http://website101.com/Click_and_Inc.html
And a couple more resources to protect your ideas are:
http://www.clickandtrademark.com
http://www.workz.com
You will want to protect your idea with copyright for intellectual
property, trademark for logos or identity marks, patent for product
design ideas and of course the Non-Disclosure Agreement for presenting
your ideas to potential partners and investors.
I'd love to tell you about projects I've been involved in, but I've
signed non-disclosure agreements (NDA) on the most exciting ones.
;-)
Q: Who do I contact about buying my idea? (This would be an idea
connected to the internet offering sevices not yet available.)
A: The answer to that is research, research and more research. The
second question means finding someone with money, an interest in
your idea and resources such as experience, contacts, intelligence
and honesty (tough call that last one). Here are a few more resources
I'm familiar with to try out.
http://www.virtualventurecapitalconference.com
http://www.capital-connection.com
http://www.garage.com
Q: If this is a needle in a haystack idea what would I expect from
an interested party? Specifically their return correspondence. I'm
not concerned with dollar figures at this time.
A: You can't guarantee anybody will respond positively to your correspondence
even if you present your case in a dramatic and convincing way without
appearing to hype the potential. Over-hyped "opportunities"
abound online. Research your potential contacts thoroughly and present
your case. Prepare a "non-disclosure agreement" (NDA)
and have them sign on the dotted line before giving any sensitive
information that could let them walk away your idea.
Above all, don't waste time! Knowledge is power and you can be sure
that others will get the same idea before long. So treat your ideas
like projects with schedules, deadlines and priorities. The most
important issue is managing your time wisely. We've arranged to
save you 90% on a time management course! Visit:
http://website101.com/time_control.html
I have done all of the above in regard to several client ideas and
website development projects and earned substantial returns on the
work from some of them and lost lots of money and time on some of
them. There are no guarantees you'll do well. You've got to research,
protect your ideas with NDA's and then approach your potential investor/buyer
intelligently.
Good luck with your great idea! The web is a great place to launch
the latest, greatest original ideas because of the enthusiasm for
new ideas online provides fertile ground for your little seedling!
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