How to Protect Ideas Against Theft by Competitors and Others

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In this episode, I discuss why keeping ideas secret is fundamental to protecting them. When you have a new idea, you’ll need to carefully weigh up who you disclose it to and how.

Show Notes

I also share why confidentiality is one of the core three IP rights, and it’s a very important way in which ideas, systems, processes, and databases are protected. 

Topics discussed in this episode:

  • How to protect ideas against theft by competitors and others
  • The importance of confidentiality
  • How the patent system works
  • The rationale behind IP
  • When to use a non-disclosure agreement (NDA)
  • The case of Microsoft’s Tablet PC versus Apple’s iPad
  • How to maintain your competitive advantage
  • The use of confidentiality to keep methodologies and recipes a secret

Key Takeaways:

  • Keeping ideas secret is fundamental to protecting them
  • Confidentiality is one of the core three IP rights
  • Every great innovation began simply as an idea in someone’s head
  • Why the patent system will only grant a patent on innovations that are not in the public domain
  • The trade-off that the state gives us for revealing our ideas is a monopoly right
  • Copyright does not protect the underlying ideas but it only protects the way you express them.
  • Copying of ideas may pose a serious threat to your business
  • Why the state is constantly doing a balancing act
  • Protecting your ideas against competitors and others
  • How an idea is implemented determines how well it’s received in the market
  • What’re the huge commercial advantages to being first to market

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