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Document Sample
3. Protecting Your Idea
So
you
want
to
get
feedback
on
your
business
idea,
but
how
do
you
share
it
safely?
Maybe
you
decided
on
a
catchy
business
name
and
slogan.
How
do
you
protect
them
from
being
stolen
by
a
compe=tor?
In
this
chapter
I
walk
through
how
and
when
to
protect
your
intellectual
property,
including
trademarks,
copyright,
trade
secrets
and
patents.
We
will
also
explore
NDAs
(Non-‐
Disclosure
Agreements),
and
how
they
can
help
you
rest
a
liGle
easier
when
sharing
your
idea
with
other
people.
Keep
your
ideas
safe,
and
keep
your
mind
at
ease!
Intellectual Property
Intellectual
Property
is
ownership
of
something
intangible,
such
as
an
idea,
design,
concept
or
formula.
Entrepreneurs
use
intellectual
property
to
protect
their
business,
here
are
its
4
forms:
Type of work Examples
Chapter 4: Protect Your Idea
a
work
of
literature,
source
1. Copyright code,
a
musical
authorship
composi=on
a
sign
or
indicator
logos,
slogans,
2. Trademark associated
with
a
or
brand
images
brand
a
work
of
a
machine,
3. Patent process
or
inven=on
physical
product
a
process
or
formula
that
the
Coca
Cola
4. Trade Secret recipe
retains
value
by
remaining
secret
Copyright Symbol: ©
Copyright
applies
to
original
works
of
authorship
such
as
a
book
or
a
play,
but
it
also
covers
crea=ve
art
including
photographs,
pain=ngs,
drawings
and
sculptures.
Legally,
your
content
is
copyrighted
upon
crea=on.
That
means,
the
poem
or
doodle
you
scribbled
into
your
notebook
automa=cally
belongs
to
you
under
copyright
law.
The
important
trick
in
cases
of
dispute,
however,
is
proving
that
you
created
the
work
first.
Some
people
seal
and
mail
works
of
authorship
to
themselves
in
Chapter 4: Protect Your Idea
order
to
create
a
clear
date
stamp.
You
can
also
register
with
the
US
Copyright
Office
for
about
$35
per
work.
This
allows
you
to
more
easily
sue
those
who
infringe
upon
your
copyright
for
damages.
Trademark Pending: ™ Symbol: ®
Trademarks
apply
to
logos,
slogans
and
other
clear
designa=ons
of
a
brand
or
individual.
For
example,
both
the
word
“docstoc”
and
our
logo
are
trademarked.
You
can
trademark
a
single
word,
or
an
en=re
phrase,
like
Nike’s
renowned
“Just
do
it.”
Trademarks
can
be
filed
with
the
government
for
about
$300
at
the
US
Patent
and
Trademark
Office.
Like
a
copyright,
filing
a
trademark
is
a
fairly
simple
process,
and
can
most
likely
be
done
on
your
own.
Patent
Patents
apply
to
new
and
useful
inven=ons,
and
are
more
complicated
to
file
than
copyrights
or
trademarks.
They
are
also
filed
through
the
US
Patent
and
Trademark
Quick Tip
Office,
and
many
cases
it
is
advisable
to
involve
an
aGorney
in
a
patent
applica=on. You can check if
your idea for a
business name, a
It
is
for
this
reason
that
I
advise
99%
of
domain or patent
business
owners
to
not
focus
too
intently
Chapter 4: Protect Your Idea
has been taken yet
on
gecng
a
patent
immediately.
You
by searching
should
direct
that
energy
on
gecng
Trademarkia.
customers
and
building
out
your
product.
I
oden
come
across
people
who’ve
put
=me
into
gecng
several
patents,
but
s=ll
haven’t
goGen
any
customers.
In
this
case,
priori=zing
patents
ended
up
being
detrimental
to
their
business.
Trade
Secret
Trade
Secrets
are
processes,
formulas
or
designs
that
must
be
kept
secret
in
order
to
retain
their
value.
The
classic
example
is
the
Coca
Cola
formula.
If
its
formula
were
to
be
released,
compe=tors
could
reproduce
their
classic
taste
and
Coca
Cola
would
have
a
case
for
lost
damages.
Non-Disclosure Agreements
I
men=oned
in
the
“Idea=on”
sec=on
that
sharing
your
idea
with
others
is
a
great
way
to
vet
it.
It
can
be
helpful
to
share
your
concept
or
design
with
a
poten=al
partner
before
you’ve
launched
it,
or
someone
in
the
field
who
can
provide
helpful
feedback.
Whether
your
idea
is
original
or
an
improvement
of
what’s
out
there,
you
may
be
interested
in
keeping
your
product
or
approach
secret
Chapter 4: Protect Your Idea
while
it’s
in
development.
One
way
to
maintain
some
level
of
security
when
you
share
your
ideas
is
through
an
NDA
(Non-‐Disclosure
Quick Tip Agreement).
NDA’s are great, but The
NDA
details
the
sensi=ve
keep in mind that material
being
discussed,
and
almost no investors legally
requires
confiden=ality
from
all
par=es
involved.
will be willing to
sign an NDA, so
don’t expect that In
the
case
of
business
deals
or
when sharing your partnerships,
where
both
en==es
are
sharing
classified
informa=on,
idea with a venture
par=es
usually
sign
a
mutual
NDA,
or angel investor.
which
means
both
companies
share
and
keep
the
informa=on
secret.
Vocabulary:
Other
Terms
to
Consider
Blurring:
When
an
adver=ser’s
dis=nc=ve
mark
is
used
on
unauthorized
products
Dilu>on:
Lessening
the
capacity
of
a
famous
mark
to
iden=fy
and
dis=nguish
a
business
Inventor’s
Notebook:
Used
by
inventors,
scien=sts
and
engineers
to
record
their
inven=on
process
to
help
establish
dates
of
Chapter 4: Protect Your Idea
concep=on
for
patent
contesta=ons
Parody:
An
imita=ve
work
created
to
mock
or
comment
on
a
target,
protected
under
the
First
Amendment
Sa>re:
A
funny
piece
of
literature
or
art
lined
with
sarcasm
and
irony
to
cri=que
a
target,
where
use
of
trademarks
are
not
legally
protected
under
the
First
Amendment
Subpoena:
A
request
to
provide
tes=mony
or
evidence
to
the
courts
Tarnishment:
When
a
mark
becomes
linked
to
products
of
inferior
quality,
or
is
portrayed
in
an
unsavory
context
Term:
Amount
of
=me
IP
is
protected
(for
example,
a
patent
term
is
20
years)
Resources Recap
•
US
Copyright
Office
•
US
Patent
and
Trademark
Office
•
Trademarkia
•
Intellectual
Property
Agreements
(legal
document
package)
•
How
to
protect
your
idea
(course)
Chapter 4: Protect Your Idea
•
Safely
start
a
business
while
you’re
employed
(video)(video)
•
NDA
(custom
legal
document)
•
Copyrights
•
What
is
a
copyright?
(video)
•
Copyright
Licensing
Agreement
(custom
legal
document)
•
Trademark
•
What
is
a
trademark?
(video)
•
Trademark
Licensing
Agreement
(custom
legal
document)
•
Patents
•
What
is
a
patent?
(video)
•
Parts
of
a
patent
applica=on
(video)
•
Cease
and
Desist:
re:
Patent
(custom
legal
document)
