How to protect my new business idea?
I have a business idea and would like to discuss with my potential customers but afraid that they will turnaround and implement it themselves. Is there a way to protect this intellectual property? Or the only way is to file a patent? Any guidance would be greatly appreciated.
There are several ways you can do this. The first is to have your potential customers sign a non-disclosure agreement (NDA) which states that they can't copy your idea and they will keep it secret. Many people may refuse to sign your NDA so another option may be to file a patent. However, a "business idea" all by itself it not patentable. If you have a unique product or a unique software system like an app, then that may possibly be protected by a patent. A typical timeline for a new invention looks like this: patentfile.org/patent-process-and-i...