Hi! Thanks for the interesting question.
I think you should proceed with caution whenever you discuss your
product or business ideas to anyone. I also strongly suggest that you
should have adequate legal help and advice by your side.
Since you said that your idea for a great and inexpensive product, you
should first consider the following steps before discussing it with
anybody. The website, PatentCafe, is a great help for those that have
product ideas like you and would want to protect them. The following
steps are: (Please click on the corresponding links to get a more
comprehensive explanation and additional advice)
1. Organize and write down your idea,
http://www.patentcafe.com/inventors_cafe/1_how_to_invent.asp
2. Research the market potential of your idea.
http://www.patentcafe.com/inventors_cafe/2_patent_search.asp
3. Make a functional prototype
http://www.patentcafe.com/inventors_cafe/3_invention_prototypes.asp
4. Patent your invention.
http://www.patentcafe.com/inventors_cafe/4_how_to_patent.asp
5. Market Your Invention
http://www.patentcafe.com/inventors_cafe/5_invention_marketing.asp
In your case where there will be somebody funding your invention, you
could also license your invention so as to get a profit in the form of
licensing fees or royalties. The following link also has a guide for
you to use when making an agreement as regards to royalties. This is
one very important step so be sure to read thoroughly on the advice.
6. License your invention to get royalties.
http://www.patentcafe.com/inventors_cafe/6_license_royalties.asp
I also found this tidbit of information as regards to your case
wherein there will be someone funding the development of your idea.
The US Patent and Trademark Office states that it will still be you
the true inventor who should apply for the patent and it must be in
your (the inventor) name.
“6. If a first person furnishes all of the ideas to make an invention
and a second person employs the first person or furnishes the money
for building and testing the invention, should the patent application
be filed by the first and second persons jointly?”
“No. The application must be signed by the true inventor, and filed in
the U.S. Patent and Trademark Office, in the inventor's name. This is
the person who furnishes the ideas (e.g. the first person in the above
fact pattern), not the employer or the person who furnishes the
money.”
“General Information Concerning Patents: FAQ”
http://www.uspto.gov/web/offices/pac/doc/general/faq.htm#a6
In terms of protecting the clever name you came up for the product, it
is highly advised that you should trademark it. The following is a
source of a wealth of information about trademarks.
“Basic Facts About Trademarks”
http://www.uspto.gov/web/offices/tac/doc/basic/
In case you still feel that you need to talk to the person about your
idea, this website, although, it came from the UK, provides practical
advice in protecting your business ideas.
1. Write down your ideas. If possible illustrate.
2. Protect yourself legally through a “CONFIDENTIALITY AGREEMENT”
3. Use protection measures provided by the government like copyright,
patents or trademarks whichever is applicable. In your case they are
patents and trademarks.
“Protecting ideas”
http://www.here4business.co.uk/BLNY/development/ideas.asp
To get a better overview of copyrights, patents and trademarks the
next link would be of great help.
New York Small Business Resource: “PROTECTING YOUR IDEAS”
http://www2.nypl.org/smallbiz/business/trademark/trprint.htm
Search terms used:
protecting business ideas invention royalties
I hope these links would help you in your research. Before rating this
answer, please ask for a clarification if you have a question or if
you would need further information.
Thanks for visiting us.
Regards,
Easterangel-ga |
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