3 reasons why you should reveal all about your business idea when seeking IP advice

11 May 2016

 

Being cagey about your startup idea is generally sound advice; after all you don’t want others to benefit from your idea at your expense.

However there is one situation when being cagey could be counter productive…when seeking guidance about protecting your IP.

The following are the 3 reasons why I ask aspiring entrepreneurs seeking advice from me to tell me as much as possible about their startup idea.

#1. If you withhold information, the advice you are given may well be inaccurate; this is probably the most important reason to bear in mind.

#2. It does not make for a conducive working relationship (I can usually spot a mile off when a client is being deliberately vague about their business idea!).

#3. If you are seeking IP advice from someone in a position of trust (e.g. a professional legal/business advisor) then a duty of confidentiality usually crystallises over your discussions which the advisor is bound by).

So feel free to be open and transparent…after all your IP advisor may well be able to tell you whether your idea is the ‘ace up your sleeve’ that you thought it was!

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