Seminar

Intellectual Property in the Idea Stage

Intellectual Property in the Idea Stage

You cannot protect your idea from being stolen. The idea is just an idea. Still create NDA’s and have people sign and see if you can enforce it later anyway.  It is all about the execution of the idea. So keep the idea to yourself or a small group of trusted people and execute on the idea. The execution can be be protected, by copy-right, patents or design.  The other very important aspect of the idea and first execution phase is to be aware who owns the IP. If you have somebody else do the execution (write the program, do the technical work, do the engineering), does n’t mean you own the IP because you came up with it. There is a lot of stuff that determines and it is not as simple as it is owned by the person who came up with the idea, the questions about employment relations versus subcontracting and agreements and implied agreements all add up to the mix. And if you do it incorrect and have IP lawyers involved later, it is just going to be a nasty situation with lots lawyer bills and investors and founders that feel they have been cheated out of money, on top of that there are statues of limitation on some inventions that take already effect after 12 months. So be careful in this stage as it can save you lots of troubles and sleepless nights later on.

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