Many inventors who come to me have a great new idea but know that they need some help to make it a reality. Few inventors have the resources to manufacture, market, distribute, and sell their invention by themselves. They may need to bring investors on board to supply capital, hire manufacturing or programming experts to implement their idea, or partner with a big company with an established marketing and distribution network for that type of product.
Naturally, these inventors are concerned about exposing their ideas in their search for the help they need. What if, seeking a partnership, they tell a big established company about their idea and find themselves rebuffed, only to discover later that the company has started making their invention independently? Having an idea stolen is one of an inventor’s worst fears.
The Three-Step Invention Protection Plan
I always recommend a three-step, three-layer protection plan to allow inventors to market and develop their ideas without having to worry about their idea being stolen.
- Apply for a patent covering your invention
- Use non-disclosure agreements
- Disclose only as much as necessary
Each of these steps provides its own layer of protection with different advantages and disadvantages. Each will be discussed in detail in the next three posts. Stay tuned, and let me know if you have any questions or think I left anything out in the comments below.
Part 2- Step 1 of the Invention Protection Plan (Apply for a Patent)
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