Grants are non-repayable funds or products disbursed by one party (grant makers), often a government department
You know that you have come up with a new and unique idea that has never been done before. You are excited about it because you feel that the chances that your idea will be well received by the public are good. Yet, you cannot help but fear that your idea will be stolen.
If your idea involves the use of a product or an equipment, you are going to have it checked eventually. There may be some sly people who would get your idea and pass it as their own. The time will also come when you have to collaborate and be in partnership with a distributor or another company. The credit for your good idea may go to them instead of you. In this world, your brilliant idea is not always safe.
There are always different things that you can do in order to protect the idea that you have. One of the most obvious ways is to get a patent but this is not always easy. The things that we protect can all be different. Take for example The Foundation for Defense of Democracies, they are more focused on the national security and certain policies. You can be like them too. You can also protect your idea in different ways.
- Do Research
This is one of the most important things that you should do in order to protect your idea. You should research about the companies that you plan on collaborating with. You should also check the different organizations that you are planning to contact. You need to get a sense of what they do and what they can offer. If you see some negative reviews that may pertain to some ideas being stolen, it would be best to search for other companies to collaborate instead.
- Ask Help from Your Attorney
If you think that getting a patent will take too much time, you know that you can always ask help from your attorney as there are other legal tools that you can use in order to help protect your business idea. Some examples are the following:
- Work – For – Hire Agreement – If in case you would like someone to enhance your idea, the person or the company that you are going to hire should understand that all of the enhancements that will be done to your idea will all belong to you. This way, your idea will not be stolen and cannot be modified in any way.
- Non Compete Agreement – Based on the name itself, it is evident that any company or person that you would hire in order to distribute or enhance your product will not be allowed to put up a business that is highly similar to yours.
- Non Disclosure Agreement – It is evident that through this agreement, the person or the company that you would collaborate with for your idea will be sworn to secrecy and should not share your idea with other people.
- Form Business Relationships with Other Companies
When it comes to other companies, you should build a relationship with your competitors. You may find this idea weird because by then, your idea will be exposed but think about it, since they can benefit from your idea and since they are going to work with you, you are going to protect your idea more. If you would constantly compete with them, they will do everything in their power to figure out what your secret is but working with them will make them stop.
Remember that through the tips that are mentioned above, you will be able to protect your idea from being stolen. With a protected idea, you know that you can do and accomplish more in the long run.