How do you prevent others from stealing your ideas? - Seedly
Seedly logo
Seedly logo
 

Entrepreneurship

Anonymous

Asked on 28 Nov 2019

How do you prevent others from stealing your ideas?

If your company has just started, how do you prevent larger, more well-established companies from stealing your ideas? especially if they have the resources to get the product up and running extremely quickly.

0 comments

3 answers

Answer Now

Answers (3)

Sort By

Junus Eu
Junus Eu
Level 9. God of Wisdom
Answered on 28 Nov 2019

In all tages, execution ALWAYS matters more than ideas. Ideas are cheap/free - what matters is the courage, dedication and grit to see your business through. Unless you're launching a bio-tech company, or a business in industries where protecting intellectual property is absolutely key.

It is true that well-funded companies can easily swoop in to copy business models, and pump huge marketing resources into it. As such, you must know your secret sauce. Like David and Goliath, make the weakness of the giant your strength.

0 comments

👍 1
Cedric Jamie Soh
Cedric Jamie Soh, Director at Seniorcare.com.sg
Level 9. God of Wisdom
Answered on 27 Dec 2019

Large companies are more interested in talents than ideas.

They are aware that talents are the rare commodities, not ideas. (too many times they will laugh at "great ideas".)

For example Google buy Nest not because Nest is a great idea... its because they want the Nest team. (another topic for the day, once the minimum contract ends, Nest team depart Google, lol)

Legally wise, forget about IP protection, copyright, trademark at the beginning, unless cash is no object, then go for it. (Lawyer are not cheap).

Do a MVP up as fast as you can, the working prototype in the market fast and get recognised fast.

When you do it fast, you get it in public's eye as the first one, thats a good branding that will be difficult to shake off.

0 comments

👍 0

Apply for copyright, patent, trademark, intellectual property rights (depending on your ideas). You may include worldwide coverage to this end.

Here is everything about me and what I do best.

0 comments

👍 0