May 26, 2015
Dear
Cathy:
I decided
to use potential investors to fund my business but how can I protect my business idea? Future Business Owner, Texas
Dear
Future Business Owner:
Closely
related misconceptions include the one that says you must keep your business
idea secret for fear of "copycats." That leads new entrepreneurs to be
overly protective. These new or potential business owners don’t want to
write down their ideas because they’re afraid somebody will steal it. It
takes a complicated operations plan to make a product into a stream of revenue,
and that takes a long time.
Remember
business owners are “risk-takers” but you need to be an intelligent
risk-taker. If you are that afraid that an
investor, or someone else, is going to steal your business idea - then patent it, get a trademark
or copyright it before you present it to investors.
You can
do this yourself over the internet by copyrighting it or get a trademark or
patent attorney. Sometimes investors will
want you to give them part of your company, but don’t be so paranoid that you
run potential investors away.
To view a
list of 30 potential ways to fund your business read “How To Take Control of Your Own Life: A Self-Help Guide To Starting Your Own Business” – available as
an e-book and paperback.
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