Brand Tuned - Smart Thinking, Better Branding
Shireen Smith (from YouTube) - How to Protect Ideas Against Theft by Competitors and Others
Nov 02, 2020
Keeping ideas secret is fundamental to protecting them, this is the case the world over. When you have a new idea, you’ll need to carefully weigh up who you disclose it to and how
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
- Keeping ideas secret is fundamental to protecting them. And in business, you need to be very, very aware of this. And it’s the same the world over.
- 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.
- Every great innovation began simply as an idea in someone’s head, and 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, so keeping them secret initially is a vital way of protecting ideas.
- The state is constantly doing this balancing act. The rights that they give have to be strong enough to encourage the creation of intellectual goods and divulging of information in return for a patent, but not so strong as to stifle creativity or prevent the wider use of those ideas.
- If you’re coming up with something innovative, expect others to jump on the bandwagon and copy.
- Copyright does not protect the underlying ideas. It only protects the way you express them.
- The copying of ideas may pose a serious threat to your business. The more crucial your idea, the more steps you should probably take to protect it.
- It’s how an idea is implemented rather than the idea itself that determines how well it’s received in the market.
- Develop the skill of knowing what to reveal, how much to reveal, and what to keep confidential about your ideas.
- Keep your idea a secret if you think it might potentially be patentable. If information about it leaks out to the public domain, it is no longer protected.
- When you have new ideas, carefully weigh up who you’re going to disclose them to and how. That’s how you manage the bloody world of competition.
- There are huge commercial advantages to being first to market, but you need to constantly improve and refine your offering if you’re to maintain that advantage. Keep staying ahead of your competitors. Even though they copy you, make it so that you’ve already moved on and actually improved the product and learned new insights.