Sunday, May 8, 2011

Disclosure Form- Protect Your Idea.

Don't show them everything!

I find it amazing, what some companies expect you to sign before sending them your idea. Fortunately, I located a company that is all about you preserving your idea and they sent out a very fair disclosure form. The purpose of this disclosure form is to protect the owner of property/invention from a company stealing his/her idea.

For example: You go to NIKE and tell them you have a new idea for a basketball shoe that allows for a 5' vertical leap. You watch as NIKE goes back to their R&D department and pulls out the exact same shoe. Bummer... they get richer and you fade away. Try it the other way, you walk in and they claim not to like you idea but two months later, there it is on the shelf your Five-o-Verts. The disclosure form should protect both parties and should never have specific monetary compensation as part of the agreement.

So where am I in my process?
  1. Problem.
  2. Solution.
  3. Found interested customer.
  4. Provisional Patent.     
     Now I sit with a copy of the "Disclosure Form" and it contains;
    • Buyer-them
    • Seller-me
    • States the obvious-
      • They have R&D
      • I have an idea
      • Not a contract to purchase the idea
    • Ask for details of Idea... drawings, patent #, product use.
    If any of this makes you nervous try our friends at:

    CorpNet® - Fast, Reliable, Affordable

    My Main goal this week:

    Get the  Disclosure Form and related materials into the hands of the buyer.

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