Protecting Your Business Idea

Many new entrepreneurs are concerned, almost paranoid, about someone stealing their idea. The concern is largely unfounded. Most people who hear your idea will not have the motivation or aptitude to outpace you to the finish line.

That being said, if you have a good idea and it takes off, it will most assuredly be copied! Accept the notion that you must forever stay ahead of your competitors. Sometimes, it can resemble a cat and mouse game with you continually watching your competitors and your competitors continually watching you and each player trying to outmaneuver the other. So be it. If you are cut-out for entrepreneurship, you will thrive in this competitive arena.

Know that legally protecting your business idea is not possible, but you can protect proprietary knowledge and products through patents, copyrights, trademarks, and employee non-compete agreements. Most would-be entrepreneurs and presidents of existing companies are fully aware of the potential legal consequences of patent, copyright, and trademark infringement. Those consequences will offer some degree of protection to you.

 If you are contemplating starting a business but are not sure if you are ready for entrepreneurship, I can offer you a career counseling session to help you make that big decision. Talking to a career counselor makes sense because the choice is not between starting a business and doing nothing, but  between starting a business and remaining an employee, or looking for a good job. Visit the contact us page, call 631-673-5432, or send me an email, mj@careersbychoice.com.

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