Have you ever been laying in bed at night and PING it happens. A revolutionary idea, something that will change your life and the lives of others. An idea that will make the big bucks and the coins too. How do you grow that seed to fruition and keep it safe though? What steps can you take to protect your fresh business ideas?
- Easy Does It. When you first have that fantastic idea, you need to put in the time to research it and make sure that it is actually original. The brain has a habit of modifying ideas it has seen elsewhere, and without giving it too much thought, we think we have a new concept. So take it easy, search for product or service, and remember that just because it isn’t on the first page of Google doesn’t mean it isn’t real. Once you have verified that is commercially viable, it is time to take the steps to protect it.
- Copyright Right. If your work is guaranteed to be unique in its essential elements and a tangible business then it is automatically protected under certain copyrights – although this will vary from country to country – so be sure to check it out. Copyright is mostly associated with photography, music, web content, drawings and illustrations, written pieces etc. It isn’t the idea itself but the product.
A physically expressed idea. Once you have the copyright to your produced items, you can ‘sell’ the usage rights to others, or the whole concept. To keep something copyrighted you’ll need to keep an eye on expiry dates.
- Trademarks. A trademark will be used to protect your brand. The name, the logo and anything else that is visually connected to your services or products. The mark gives you a lot of power if someone attempts to use any of your brand assets without permission. Putting the trademark ® next to the name. The only real must to a trademark is that the brand is unique in name and logo. You can cover:
- LogosYou, of course, can’t use foul language or individual images.
- Insurance. No one really knows what is going to happen. One moment you might be on a yacht enjoy millions of online sales, the next moment you might be getting sued for not properly disclosing certain ingredients or workers conditions. It is no good guessing what you might need, CompleteMarkets.com offers local insurance expertise and insurance markets for all businesses. Getting to correct insurance is going to protect your assets in a way you just can’t imagine if anything was to go wrong.
- Patents. If you are a bit of an inventor, then you are going to want to have a patent for your fabulous ideas. A patent gives you a certain amount of clout when it comes to protecting newer inventions. It is particularly useful as many companies specialise in creating a cheaper version of products and using the original as the model. For a patent to go through your idea must actually be something new not a modification on something that already exists.
Note: this post contains contributed content.