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business
YashTop Contributor
Content Writer
Asked a question last year

How can I protect my great idea?

Where am I?

In StartupTalky you can ask and answer questions and share your experience with others!

Unfortunately, there is no way to file patent on idea or concept. But there are creative ways to actively protect your idea without applying for a patent. Some of the best ways to protect your business idea are -

Non-disclosure agreement (NDA) 

While working with others on your idea, we can have them sign a non-disclosure agreement that commits them to confidentiality of your idea. An NDA can be a mutual agreement between two parties not to share information with third parties.

Non-compete agreement

A non-compete agreement is a contract in which an employee promises not to enter into competition similar to the current business even after employment period is over. This can be used as a tool to protect one’s idea. If you hire someone to help you, have him or her sign a non-compete agreement because they cannot use the same idea for their business or else legal action can be taken.

Copyright

Copyright refers to the legal right of the owner of intellectual property. If you have an original idea, such ideas or concepts can be made copyrighted so no one can use this idea unless they get permission to do so from you.

Ideas are a dime a dozen. It is the actual implementation of an idea that is more important. If it is truly unique, get a patent for it (see www.uspto.gov76). You may get some protection through copyright, trade secret programs, or NDAs, but not a lot.

Everything relies upon your thought. Lawful insurance falls into three fundamental classifications: copyrights, trademarks, and licenses.

Licenses ensure innovators' privileges to their creations; developments which can shift from machines to concoction mixes and even plants.

Copyrights. ...

Trademarks. ...

Licenses.