After the light-bulb moment, you finally condensed your business idea/innovation into a workable plan. How do you discuss and pitch this brilliant idea without having it stolen? This being the first series of #StartUpsLegalNeeds, we will interrogate how to talk about it and legally protect your thoughts.

Step 1. Don’t share it online

Whenever you post any ideas on online platforms, you usually have to consent to certain waivers on the use of the published information. These waivers vary depending on the privacy policies of the respective online platforms, and recently, GDPR. Like with any idea, execution is everything. Consider doing high level summaries instead.

Step 2. Know the applicable law 

Ignorance of the law is very expensive. Know the right legislation applicable to your idea or innovation. Should you be exploring patent registration or merely copyright? What are your other options? Alternatively, higher a specialised lawyer who will simplify the applicable law for you and advise you on implications 🙂

Step 3. Consider putting it in writing: the bigger brand question

There are agreements that you could enter into with potential investment partners or bigger brands interested in discussing your idea. Sometimes, such established brands require you to sign waivers excluding their liability in respect of using your idea. An advocate would be in a position to draft for you/your business the necessary NDA or CDA and review whether the draft you are eager to sign sufficiently offers you the protection you require for your proprietary information.

Please do not hesitate to reach out by e-mail to legal@legalconsulting.pro or to your usual contact at Legal Answers Consulting for any further questions you may have.