While many of us are scrambling to find the best toys and gifts for our loved ones this season, others are working on inventing the next big buy we will all be dying for next year. People with creative minds invent products or services previously unknown are a unique group of entrepreneurs. It is not the business that drives them, but the need to improve and create alternatives of what society deals with now.
It is likely that if you are an inventor, your first priority does not concern legalities, but rather finding investments and ways to get your product on the market. In the process of sharing your idea in order to gain visibility of your invention, there may be some sly businessmen trying to take your ideas without giving credit where it is due.
Before you begin telling people about your next big idea, be sure you can confidently answer these questions to protect your invention as your own.
Do You Have a Patent or Provisional Patent Application?
Getting your idea patented is not required by law, but it is in your best interest to do so. Patents give the inventor the sole right to sell, create, use and license your invention. Provisional patents are less expensive but still will protect your ideas. Having these makes it easier to prove that the invention is yours in case of an idea thief.
Do You Have a Nondisclosure Agreement?
If your invention is not yet patented or eligible for a patent, then it is imperative that you ask whoever you share your idea with in depth to sign a nondisclosure agreement. This allows you to speak with multiple companies and potential investors without the fear of them telling anyone and everyone about a pending invention.
Did You Document the Process?
The more specific you are about the originality and creativity of your invention, the less likely someone will try to rob you of your ideas and the easier it is to protect what is yours. Find a way to digitally track your success with hard data that can be used in your defense. Write down dates, failed attempts, successful attempts, possible improvements you plan on making, and anything else that is important to you during the process.
The main idea about keeping your invention safe is to keep as much information to yourself as possible until you have found the perfect way to roll out your idea for the best Christmas present of 2016. If you think that someone has illegally taken your idea and is profiting off of your rightful property, contact Colley & Colley law firm in Tyler, Texas for a free consultation. We protect small business owners and their independent rights.
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