Protecting a Business Idea

 

Protecting a Business Idea
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You’ve got the next big business solution – congratulations! How do you know someone, even with the best of intention, doesn’t share it with another who decides to take it and run with it? Or you want to share the idea with a few friends to get their feedback on its value, potential or viability but still want to protect what you’ve created. These are a few questions we are often asked by clients because they want to know how to protect their ideas.
The best way and most secure way, of course, is to keep the idea to yourself. But seriously, it is a sincere recommendation since most often people talk about their ideas to brag, brainstorm, and make themselves feel as if they are adding to discussions—which in the end can hurt you and your potential business idea. And to be honest, these are not good or even great reasons to disclose information you want kept confidential. However, barring total secrecy, having a Confidentiality Agreement can help protect your ideas. But what if you don’t have a Confidentiality Agreement in place or want to put one into place? The following will be helpful as a guide to making your way through the sea of opportunity.

 

You’ve got the next big business solution – congratulations! How do you know someone, even with the best of intention, doesn’t share it with another who decides to take it and run with it? Or you want to share the idea with a few friends to get their feedback on its value, potential or viability but still want to protect what you’ve created. These are a few questions we are often asked by clients because they want to know how to protect their ideas.

 

The best way and most secure way, of course, is to keep the idea to yourself. But seriously, it is a sincere recommendation since most often people talk about their ideas to brag, brainstorm, and make themselves feel as if they are adding to discussions—which in the end can hurt you and your potential business idea. And to be honest, these are not good or even great reasons to disclose information you want kept confidential. However, barring total secrecy, having a Confidentiality Agreement can help protect your ideas. But what if you don’t have a Confidentiality Agreement in place or want to put one into place? The following will be helpful as a guide to making your way through the sea of opportunity.

 

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