How do I stop others from pinching my idea?

images-3How do I stop others from pinching my idea Joe?

Again another common question student and graduate startups ask me.

My response is to get the startup to think about what makes their business idea stand out (see 27 June post).  Is it:

  • The name or branding of the idea?
  • A new product or service (i.e. an invention)?
  • A creative work (i.e. website content)?
  • How the product looks? (i.e. a product’s shape)?
  • A trade secret (i.e. a recipe)?
  • Or a combination of these things?

I can’t stress how important this short exercise is. Only once you have a clear idea of what it is that makes your startup idea ‘tick’ can you begin to tackle how you prevent others from copying it.

ACTION POINT

Patents, trademarks, copyright, design rights and confidentiality agreements are the most common tools used by startups to protect their ideas.

Can you figure out which of these tools could be used to protect the ideas outlined above?

Hope you found this useful.

Joe.

No Comments

Leave a Comment