If you tell anyone your great idea they will steal it and take it market before you can! Woe is me!!
This is most inventors biggest fear and its also one of the biggest reasons most inventors never have success with their ideas. Here are some tips to help you get over this issue and break your vow of silence.
1. Unless you triple-majored in Design, Engineering and Marketing you can’t make your idea the best product it can be all by yourself. Luckily there are firms all over the globe who can tweak and improve your design if you are willing to trust them. Trust is much easier to give when the firm you use signs your NDA, and also a Work-For-Hire agreement which says any improvements they make to your design belong to you. Sample contacts are available for free in the Inventors Blueprint download area.
2. I don’t worry that someone I tell my idea to will steal it because it is A LOT OF WORK to bring an idea market. I tell my friends, family and even casual strangers my ideas because I’ve learned how valuable their feedback can be. Is this really a great idea or am I just enamored by it because I came up with the solution? I’ll take the reward of feedback all day long compared to the perceived risk of accidentally bumping into a motivated invention thief.
3. Deadlines are a good thing. Ever try to eat peas off a flat plate? Doesn’t work very well. I think of deadlines like the curved edge of the plate that when pushed up against finally get the dang peas on the dang fork. Nothing happens without a deadline. Go file your provisional patent application to establish your filing date, give yourself a deadline to work with, and give yourself more peace of mind as you talk to people about your invention.
4. Other people already have your idea. If your idea is truly a good idea, and it has a sizable market, then you better get moving. There are over 300 million people in the US alone so it’s a safe bet that at least 50 of them came up with your solution as well. You are in a race against these other folks to get this idea to market, and luckily you have the advantage. You are getting educated on the invention process and getting over that irrational fear of sharing your ideas so you can finally take action and make some progress. Good for you!
5. Can’t sell if you won’t tell. When you’re trying to license your invention it can be hard enough to find the right person at the right company to pitch to. It’s waayyy harder when the first thing they hear from you is “Hi, will you sign my NDA?”. I personally don’t bother with NDAs in that situation, but I do like to have a provisional patent application in place.
99.9% of people won’t steal your idea because it’s too much work (and bad karma).
99.9% of companies won’t steal your idea because it risks exposure to lawsuits, damages their reputation, and restricts their access to other inventor ideas in the future. It’s way cheaper to pay a royalty if you are reasonable, or find another idea if you are not.
You can cover your butt against the other .1% with NDAs, Work-For-Hire agreements and Patent Applications.
Your biggest legitimate fear should be those other 50 people with your idea. Get moving with that idea or someone else will.