If you want to open a business from scratch, is almost certain that you believe you are in possession of an idea that is worthy of monetizing. For that reason, and from the outset, you should protect this product will all of your ability. If you fail to do this, you might find that you are washed away in the tides of business competition, as technically other businesses can copy your idea if you’re not protected in the correct ways. This idea will serve as the grounding point for your business, so you must treat it with respect and understanding. If you fail to do this, you run the risk of being victimized in some way, and having your potentially successful operation being pulled away from you.
Here are the best ways to do so:
Trademark
To make your enterprise official, it’s important to apply for a trademark as fast as you can. Doing this will legitimize your business, and make your products ‘legitimate’ when tied with your brand. A trademark from Igerent will help protect your intellectual property in a complete way, taking into account brand names and logos. It also helps you protect literary or artistic works depending on what product you are hoping to sell.
For example, if you create a video game company, your indie title will need to be trademarked rather than patented. A patent is also worth looking into if you’re hoping to innovate, as they prevent other firms or individuals from innovating an idea just like yours within a select amount of time. This should ideally be step on on your journey, in the initial days of opening your firm. This is not optional either, as a firm operating without a trademark is liable for a whole host of issues you really want to avoid.
Wisdom
Of course, the best way around having your idea stolen is to be wise around those who are interested in it. Protect the idea with all of your ability, never divulging too much information about it. If you’re involved in hiring employees to work on your idea, draft and make them sign a non-disclosure agreement which makes them liable for incredible fines if they divulge your idea to an outside party. Be careful who you pitch your idea to until the patent is approved, and be careful who you take money from. While investors are always there to try and make money, they of course are calculating people, and if they spy an opportunity to emulate your idea without having to invest in you they will be sure to do so. Once you have a deal in place, divulging the minutia of your idea is fine, but be careful if no one has a vested or tied interest in you or your firm just yet. Treat your idea as the lifeblood of your firm, as that is of course what it is.
Before long, your idea will blossom from strength to strength, and your protection efforts will have worked amiably.
Good luck!
