Quote:
Originally Posted by selectmarketing
FOLLOW-UP QUESTION
Are these same companies likely to "borrow" ideas if that same concept were to be at the patent pending stage of the application process with the USPTO?
I have a product/concept idea that I have worked on for some time now and am in the middle of finishing up my patent application with my patent attorney right now. However, for protection, we filed a provisional patent application last summer in an effort to be able to further my research on the marketability of my product/concept without having to go through the much greater expense of filing the standard patent application without having more research data available to evaluate the viability of my idea first.
With that, my marketing company has done extensive studies on the viability of this particular idea which in the process has gotten extremely favorable results. All data accumulated does suggest that this idea would have value.
I feel I've done everything possible to gage results and profitability and am of the firm believe that this concept will work and become widely accepted and used by both large and small companies.
My question is how safe am I to present my concept to prospective companies that I have targeted? Will companies still more often than not look for ways to steal the concept or are they more likely to work with me since patent applications have been filed and I do sit on a legitimate patent pending? My concept also has a very solid and catchy name which I have trademarked recently (that application was filed last summer and just issued as an official trademark a few weeks ago).
Any advice or insights would be really appreciated. Thank you!
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Advice - Do not present the idea to anyone nor post any details online until you've completed the all the potentially applicable (standard) patent applications. I've seen 1st hand and additionally read enough case studies about this sort of thing to feel completely and justifiably paranoid regarding this topic. VCs or Angels are just as likely and capable to steal your idea as a large company. Indeed I wouldn't even present the idea, patented or otherwise until you have everyone who attends any meeting(s) with you sign non-disclosure, non-compete, and other legal documents protecting you even if they decide not to hire you or pay you for the idea.
Insight - I think your situation is a loser one no matter what you do. I think the chances of getting anyone to sign what needs to be signed before presenting your idea is slim to none. I think even getting a hearing with execs at major companies or with true VCs will pose a significant challenge.
The major problem is that you say you have this wonderful idea or business model, but you also describe how you essentially have no interest in bringing the idea to fruition. I know where you are coming from, I'm an "idea man" myself - I respect that sort of thing. But the truth is that it takes much more than an idea to accomplish anything. Without action and without a champion of the idea you're just blowing hot air. Most anyone with wealth to invest in a risky venture (and a sharp brain on their shoulders) would agree with this.
You need to either be the guy willing to make it happen, or be the one with the money (or you need to be both). If you're indeed a person with neither... then your idea likely isn't going to make it or it'll make it but you won't see any profit from it. I thus recommend you revisit your willingness to bring the idea to fruition
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