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Having an idea and running with it

Idea threads

ddzc

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Hi everyone,


I have some pretty basic questions to ask. I have an idea which I want to pursue (Iphone App) and I'm looking for development.


What would be the first step in protecting the actual idea? Is there a certain patent I will have to create in order to protect the idea...in the event that I find a developer who runs with the idea on there own afterwards.


Also, how do you pursue investors (if required) on a bright idea in order to seek funds/investment in the project?


Thanks everyone!


Dan
 
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The-J

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Great! An idea is always good.

Don't worry about protecting your idea. Seriously. It's probably already been done anyway. If you find that, after you launch and have decent success, your brand or product is in need of protection, get a patent attorney. Developers are too busy developing other people's ideas and making nice money to steal your idea that, in their mind, probably won't work anyway.

Don't worry about investors right now, either. Bootstrap your project. If, down the line, you do find yourself in need of funds, take a SBA (small business association) loan.

Welcome to the forum.
 

ddzc

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Thanks a lot for the response.

I would still like to protect the idea...do you know what it costs to have a patent attorney set this all up for a worldwide patent?

The business proposal and all sketches will be completed shortly. Will a non-disclosure agreement protect me from anyone, including investors from running with the idea?

My project may need 50k upfront from investors. Do you have any other suggestions on the path I should follow to seek?

Thanks
 

healthstatus

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ideas cannot be protected by patent

a non-disclosure only covers you to have an attorney pursue the person you feel stole your idea, at your cost and the burden of proof is high. Investors invest in people with ideas, they don't steal them, they are already too busy.

Create the most minimal version of your application you can, even if it is just a powerpoint presentation of each screen and what the function does. Then you can look at either getting started with private investors, or look at crowdfunding, using the mockup to present your idea.
 
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Amail

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Do you realize there's no such thing as world wide patent protection? Even if you managed to secure a patent that covers every country in the world (good Christ, how much would that cost?), there's no World Patent Police to enforce it. If someone in China starts producing and selling your product in violation of a patent, you need to:
1) Discover that it's happening
2) Hire Chinese counsel and move thru the Chinese legal system
3) Prepare to shell out a butt-load of money

A patent doesn't offer you much protection. It certainly will cost you money, and may well act as your roadblock from taking real action getting your product to market.

And PLEASE don't show up to a VC meeting with an NDA. Nothing screams "clueless noob" like requesting a VC to sign your NDA.

Think about this. VC's already have plenty of money. They want YOU to put THEIR money to work. They have zero interest in starting a new business and the headaches that go along with it. They want an easy money stream, and you need to convince them you're the guy to do it. You need them; they don't need you, and they know it. You must reek of credibility - do not shoot yourself in the foot from the word go.

Your overwhelming response here will be: Move on with it. Put together a minimally viable prototype and test the market. Come up with convincing proof that there's a Need for it and you know how to execute. Then approach VC investors if you need to. Better yet, see how you can bootstrap this yourself without anybody else owning a piece of it.
 

ddzc

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Great, thanks a lot for the responses..very helpful.

Dan
 

johnp

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My project may need 50k upfront from investors. Do you have any other suggestions on the path I should follow to seek?

2 things to point out.

1. Yea I have a suggestion. Rethink EVERYTHING that you are saying. First, it doesn't sound like you even have a product. It seems like you have an idea. Ideas are always bright and new in the beginning, but they can get old real fast. If you take a 50K investment from someone then you better be prepared for the possible consequences of taking the money. Chances are that you are going to enter rough periods that you can't even imagine at the moment because you are probably stuck in the 'new idea high'. If you start to hate your idea, are you really going to want 50K of someone's money on the line? It might be in your better interests to develop a product first, then figure out if you want the money. Thinking of the idea is the easy part. Great job..now the hard part comes.

2. Second - If you are saying that an App is 50K then it probably is way too complex. Your idea could be amazing. But maybe your idea/vision is for the future version 3.0 of your product. If you really look at your product then there is ALWAYS a way to break it down to an even smaller piece as a starting point. Don't try to go from 0mph to 100mph. Allow your product to evolve. It will save you time, money, and headaches.


Oh and finally, you are going to spend more time trying to find someone to invest in an idea than actually making progress. Sit down, think it through, and find a way to fund yourself in the early stages. If you had done that then you wouldn't have had to spend your time asking this question. You just lost time "running with your idea".
 
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