So I Might Have a Multi-Million Dollar Idea, But Have No Clue How to Get It Going

[Mr swag]

So I have this idea and I have passed it off to 5 of my friends, family

1. Friend 1 - Yo that's actually a pretty damn good idea

2. Friend 2 - You sure there is nothing like that?

3. Friend 3 - Fam!

4. Family - - So you gonna just sit on it?

5. Family I'm surprised nobody has done this as yet


The problem is it requires money (which I don't have) and that's it. The coli brehs, how you get this thing off the ground without giving away the idea? I was looking at kickstarter whatever, but once you put that out there, anybody could come in and steal it.

help a breh out

File a patent and tell us the idea. That way no one can steal it from you

 

[The Nigerian]

File a patent and tell us the idea. That way no one can steal it from you

You actually think this breh sat down and INVENTED something?

 

[Mr swag]

You actually think this breh sat down and INVENTED something?

I thought he said he has an idea. You can file a patent on an idea

 

[The Nigerian]

I thought he said he has an idea. You can file a patent on an idea

Is your Business Idea Patentable? A Guide to What Entrepreneurs Can Patent
Got a great idea for a business? Wondering if you can patent it before someone else comes up with something similar?

Technically, you can’t patent an idea for a business – for example, if you have a unique idea for an online store or a new chain of themed restaurants. However, you may be able to protect and patent a method of doing business – if it meets very specific criteria and requirements.

Here’s what you need to know about what patent protection can do for your business, and about other intellectual property issues that should also come into play.

What You Can Patent

There are three types of patents you can apply for based on the nature of your invention: utility patents, design patents, or plant (of the green variety) patents.

If you have a business idea that is somewhat abstract, then you may be eligible to apply for a utility patent . A utility patent may be granted to anyone who invents or discovers any new and useful:

• Process
• Machine
• Article of manufacture
• Composition of matter
• Any new and useful improvement of these.

That’s a pretty broad bucket of innovation. But the U.S Patent and Trademark Office (USPTO) is also very specific about the requirements for these patents. Your idea or invention must be:

• Novel
• Non-obvious – meaning anyone else with the same skills in this area could not have come up with the same idea
• Clearly explained and documented so that someone equally skilled could make and use the invention

The Patenting Process

If you are confident your idea falls within the definitions and requirements above, check out the next steps, which will include checking for previously filed patents, and are described here by the USPTO. If you’re not clear whether your idea falls within these boundaries, read USPTO’s “ How do I Know whether my Invention is Patentable?” .

Either way, it’s worth taking time to consult with a patent lawyer. If you choose to proceed, be prepared. This can take time and using the services of a patent attorney to help you meet the precise documentation and filing requirements is going to cost you. If you are seeking outside investment and have established that your business idea or invention is patentable, it may be worth rolling the cost of getting legal help into your business plan and seeing if your investors will cover the costs.

Other Ways of Protecting Your Business Idea

Even if your idea isn’t patentable, there are still important assets of your business you can protect. For example, web content can be copyrighted. You can also trademark, and should do so if you want to claim and protect your product or business name. Here’s a quick overview of these two forms of protection and how to register for them:

Copyright – If your business involves creating original written works, music, or videos, these can be covered by copyright laws. Copyright can be claimed through the U.S. Copyright Office for a small fee. Note that copyright does not protect ideas, concepts, systems, or methods of doing something. While you can express your ideas in writing or drawings and claim copyright in your description, copyright will not protect the idea itself.

Trademark – A trademark is different from a patent because it only protects words, names, symbols, sounds, or colors that distinguish goods and services. Trademarks, unlike patents, can be renewed forever as long as they are being used in commerce. Trademark infringement can carry a high cost for your business. Before you pick a name, use the U.S. Patent and Trademark Office’s trademark search tool to see if a similar name, or variations of it, is trademarked. If your chosen name is unclaimed you can then register for the trademark online (for a fee).

Related Resources

• SBA Small Business Guide to Intellectual Property
• 5 Tips for Protecting your Business Intellectual Property in a Social Media World
• How to Protect and Enforce Your Intellectual Property Rights in Foreign Markets
• Understanding Intellectual Property Law and How it Can Protect Your Online Business
• How to Choose, Claim, and Protect Your Business Name – Online and Offline
• Can You Use or Reproduce the Work of Others on Your Website or Blog? ·

Of course all of this is for naught if you don't have any capital. Can't pay for lawyers with your "ideas."

 

[KravenMorehead™]

me too breh.

 

[FSP]

You need a TEAM, so you have to tell somebody

I'm in the same boat, and I'm just starting to gather people together, if you wanna talk about it pm me, you won't have to share your idea don't worry but I can help you with first step

 

[FSP]

I'll argue there aren't million dollar "ideas" there's million dollar "execution". Most investors don't invest in the idea moreso the team because most "ideas" pivot multiple times before it turns into something viable. Also no offense it doesn't matter how many people tell you something sounds good, it's an entirely different mindset to get them to pay for it.

Personally I don't like "unicorn" ideas because most of them tend to amount to nothing. Meaning the person is so caught up on their "idea" they're too scared to tell anyone for fear of it being stolen (nobody cares to steal your idea and anyone with the capability of doing so are too busy with their own "ideas").

My guess is your idea here involves something technical and you don't have said requisite skills or the money to pay someone else to build it. That means the only way you'll get this idea done is if you convince someone else to provide you the capital (whether their time and skill or their money). This pretty much makes you a salesman. There's nothing wrong with being a salesman and one might argue that it's one of the more important skills any successful entrepreneur can have.

Please don't believe this. People can and will steal your idea in fact it's happened numerous times especially in the tech sector. If you think you have a good idea keep it to yourself and people that can help you until you get to a point where you have enough LEVERAGE to not care i.e good team, solid plan, and funding.

 

[L&HH]

Please don't believe this. People can and will steal your idea in fact it's happened numerous times especially in the tech sector. If you think you have a good idea keep it to yourself and people that can help you until you get to a point where you have enough LEVERAGE to not care i.e good team, solid plan, and funding.

almost every person I've come across that has this mentality has never gotten their "idea" past the "idea phase".

 

[Terrance Curtis Beasley]

My advice is don't listen to @The Nigerian

 

[FSP]

almost every person I've come across that has this mentality has never gotten their "idea" past the "idea phase".

How would you know if they're not telling you..?

My product is in the "design phase" and I'm preparing my demo as we speak

Ive read comments like yours before, usually regurgitated from some bullshyt i read on reddit

But please tell me what advantage running your mouth to EVERYBODY could possibly have

especially when you have very little advantage to begin with

Nobody who thinks they have a worthwhile product is going to treat it like 2nd rate trash, nor should they

you act as if idea theft isn't common practice in art and business. It has to be -- because it isn't illegal.

I understand, if you're trying to research your target demographic, by all means. But telling random ppl on a forum, naah

It's all about advantages, if you are a person with the skillset to do on your own, then fine. That's different, OP obviously is just an idea guy who may or may not have anything to offer beyond that, and for people in his situation, he is right to be guarded

 

[L&HH]

How would you know if they're not telling you..?

My product is in the "design phase" and I'm preparing my demo as we speak

Ive read comments like yours before, usually regurgitated from some bullshyt i read on reddit

But please tell me what advantage running your mouth to EVERYBODY could possibly have

especially when you have very little advantage to begin with

Nobody who thinks they have a worthwhile product is going to treat it like 2nd rate trash, nor should they

you act as if idea theft isn't common practice in art and business. It has to be -- because it isn't illegal.

I understand, if you're trying to research your target demographic, by all means. But telling random ppl on a forum, naah

It's all about advantages, if you are a person with the skillset to do on your own, then fine. That's different, OP obviously is just an idea guy who may or may not have anything to offer beyond that, and for people in his situation, he is right to be guarded

I know because I know them personally and when I just ask them what they're up to in general, the response isn't very enthusiastic. Or that bright-eyed zeal when they first originally spoke about it is all gone.

 

[FSP]

I know because I know them personally and when I just ask them what they're up to in general, the response isn't very enthusiastic. Or that bright-eyed zeal when they first originally spoke about it is all gone.

Yeah but that happens man. That's happened to me before and for many different reasons, usually because the idea I thought was so golden turned out to not be all that great or people weren't feeling it. That's usually what it is. In which case is a zero-cost mistake. Really though all I'm saying, is if you're gonna tell people tell the right people. In a way it's a lot like an interview, I tell people, but first I make sure that they are of my target demographic, then I make sure they don't have the skills to execute better than me quicker than me. If i'm trying to gather a team I make sure that my guy has either an equivalent or completely different skill set than me. Right now I only have 1 other partner

 

[L&HH]

Yeah but that happens man. That's happened to me before and for many different reasons, usually because the idea I thought was so golden turned out to not be all that great or people weren't feeling it. That's usually what it is. In which case is a zero-cost mistake. Really though all I'm saying, is if you're gonna tell people tell the right people. In a way it's a lot like an interview, I tell people, but first I make sure that they are of my target demographic, then I make sure they don't have the skills to execute better than me quicker than me. If i'm trying to gather a team I make sure that my guy has either an equivalent or completely different skill set than me. Right now I only have 1 other partner

Personally I'd like to have enough confidence in what I'm doing that I don't believe anyone can out execute me. Or that I can at the very least carve a lane for myself. Otherwise I wouldn't do it. Which leads to what you mentioned "zero-cost mistake". Do you not consider time to be cost? Many people would argue that's the greatest cost you can have because it's something you can't get back.

 

[FSP]

Personally I'd like to have enough confidence in what I'm doing that I don't believe anyone can out execute me. Or that I can at the very least carve a lane for myself. Otherwise I wouldn't do it. Which leads to what you mentioned "zero-cost mistake". Do you not consider time to be cost? Many people would argue that's the greatest cost you can have because it's something you can't get back.

Yeah but axing your idea in the idea phase is how you save the most time and money.

No matter how you look at it, the more people know about a good idea the more likely you are to be in competition in a sooner time period than if you were to execute and plan your steps carefully before letting a bunch of people know about it

 

[LinusCaldwell]

You need to raise some venture capital funding. The new game is getting other people to pay and take the risks.

Or you can use sites to help. @LinusCaldwell has a site that they're always promoting on their podcast that could help. (I forgot the name)

@froggle www.FTESWL.com is the site

@Mr Hate Coffee