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protecting my idea - advice sought, please.

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Joined: 05 May 2010
Posts: 2

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PostPosted: Wed May 05, 2010 3:59 pm    Post subject: protecting my idea - advice sought, please. Reply with quote

I expect I shall initially sound like some naive bloke who has the next big Internet thing.

I have been working on a new IT project for a few years now. Starting with research of my potential customer base, across a large geographical area, and then building a complex solution to address my potential customers needs.

As many people would be, where they have a big idea; I think mine has the potential to be huge. And, unfortunately, because I have invested so much time and personal funding in it, I am very, very protective of it and perhaps clouded in my ability to 'see the wood for the trees'.

I want to be able to explain/sell, the concept to potential customers and to explain it to potential investors. I know that the manner in which I should present it, is different for both groups but I can't yet seem to free up my thought processes to plan best how to present it to each group.

If I were to explain its position in the market, it could divulge the fundamentals of it.
If I explain each component and the new benefits they bring as well as the collective benefits from them all, a competitor could adjust their existing business model in time.

However, I have three patents pending across the UK and EU but have not yet received a response from the patent office to confirm they have received the applications and so I cannot divulge anything about them.

I am confident that one application will be successful but my patnet attorney is confident of two with a 'good possibility' that the third may be successful.

I would appreciate any advice you may be willing to impart as to how I can explain the merits of my solution to either group, without actually giving the whole idea away.

I want to launch it very shortly and in an effort to do this, I want to preserve as many of the 'technicals' about it whilst, at the same time, actually attracting business.

Any advice will be gratefully received.

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Joined: 25 May 2010
Posts: 137
Location: UK & ROI
156 ants

PostPosted: Tue May 25, 2010 6:39 pm    Post subject: Reply with quote

Hi Bazz,
I understand your concern and maybe you should wait until you have your protection from the patent.

If you wish to promote your idea before you have the full patent you should find the most suitable buyers for your idea, you seem to be familiar with market research. If not a Google search in your field will throw up a few leads for you.

When you pitch the idea the client will expect details, a non disclosure agreement that the client signs before the meeting may help protect any details, but "once the tooth paste is out of the tube, it is very hard to put it back in." H. R. Haldeman

Your presentation should focus on the benefits and the problem it solves rather than the details of your work.

Very interested to learn what you have come up with, post it on here when your protection is cleared. Or if you are feeling brave give a vague explanation of what you have come up with.
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