15 replies
This is just general question(s) that will give me additional information on how to proceed.

1) If you have a product or service idea for a company you work for that could be worth millions to the company would you:

a- approach the company to share your info. and hope they pay you. (i.e. suggestion box)
b- go it alone and become a type of Intrapreneur with agreements in place.
c- quit and go on to build a million dollar business while helping your company indirectly.

2) Do you feel that most Corporations are on the take and are not fair?

3) How would you protect you business concept/idea?

a) non-competition contracts
b) joint venture contracts
c) Trademark or Registration process

Thank You
CashMonk
#business #concept #ideas or brainstormin
  • Profile picture of the author nmwf
    Have you signed an employment contract already? If so, you might want to take a deeper look at it. Some companies have the audacity to claim anything created by you (even off-site and off-hour) as their own. For this reason, most people that I've heard discussing this sort of thing recommend seeking a lawyer for advice.
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    • Profile picture of the author Gambino
      It's impossible to say with the information provided. A lot of people have ideas that COULD be worth millions. But those ideas are worth $0 until the idea comes to fruition and is actually worth something.

      Do you have the resources to see your idea through? Do you have the resources to support yourself if your idea fails?
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    • Profile picture of the author cashmonk
      Nope...never signed anything. So I'm good there, but there might be a hidden clause somewhere. This information all have provided,if I were to break it down, is this:

      1) Don't tell anyone about this concept
      2) Get an attorney
      3) Somewhere I'm owned, brain, ideas etc.
      4) Most if not all businesses (people) are unfair.
      5) Unseen clauses and greed will keep me in the back seat.

      These are answers I would expect from friends. For that: Thank You.

      Considering it all.
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      • Profile picture of the author BigFrank
        Banned
        I wouldn't trust anyone but me. If you PM me I promise to give you a thorough, honest evaluation as will as the best way to proceed.

        Cheers. - Ima Theef
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        • Profile picture of the author cashmonk
          Originally Posted by BigFrank View Post

          I wouldn't trust anyone but me. If you PM me I promise to give you a thorough, honest evaluation as will as the best way to proceed.

          Cheers. - Ima Theef
          Big Frank

          LOL were you saying I should only trust you or me. I love it.
          To be honest the most valuable things are simple.
          This is so simple and powerful that it is being over looked.
          I would turn this into an WSO if I could ...because anyone could walk off the street and implement this.
          Unfortunately, I can't even whisper this to anyone let alone PM them. But alas, I may have to share it sooner or later. The company is going to figure it out...and when they do...we all lose.
          I'm in between a rock and a hard place....LOL. What a life.
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  • Profile picture of the author ryanmilligan
    Banned
    Get an attorney. Start your own company.

    If it's worth millions, then it's worth it.
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  • Not enough info but in general (most cases) you are their property and what you have they own in some rare cases probably less then1% they will be fair and pay fair share but in general no it's theirs just read all the fine print and even if you can't read it they have it someone to own you and your work and your contribution.
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    soon people... Relax...
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  • Profile picture of the author TexasSteve
    Whatever you do, do NOT tell anybody. That means no suggestion box, no open discussions, nothing. As much as we'd hope to think people are fair about things, they're not. Use your leverage, go out on your own, and consult/build a business around your idea.
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  • Profile picture of the author ryanmilligan
    Banned
    Originally Posted by cashmonk View Post

    3) How would you protect you business concept/idea?


    CashMonk

    Start your own company. There are plenty of ways to get funding and if it really is a million dollar idea then funding wont be hard to come by.

    Get an attorney though, one that knows what he's doing.
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  • Profile picture of the author Jason Kanigan
    Originally Posted by cashmonk View Post

    This is just general question(s) that will give me additional information on how to proceed.

    1) If you have a product or service idea for a company you work for that could be worth millions to the company would you:

    a- approach the company to share your info. and hope they pay you. (i.e. suggestion box)
    b- go it alone and become a type of Intrapreneur with agreements in place.
    c- quit and go on to build a million dollar business while helping your company indirectly.

    2) Do you feel that most Corporations are on the take and are not fair?

    3) How would you protect you business concept/idea?

    a) non-competition contracts
    b) joint venture contracts
    c) Trademark or Registration process

    Thank You
    CashMonk
    Business is business, and that is a different world than personal relationships. Loyalty stands for very little, unfortunately. If you find a business associate who values loyalty, try to stay in touch with them.

    An NDA/non-compete and a licensing agreement should keep you protected, if you're going the road of giving the idea to someone else to execute.

    Let's talk about execution.

    This is how an idea's value can really be measured when you bring it to someone else.

    How interested are they in executing it?

    You have to know this before you meet and disclose the idea.

    And then you still have another factor to consider: honestly (or morality). Picture a 2 x 2 grid displaying four possible outcomes.

    They are interested and honest.

    They are interested and dishonest.

    They are uninterested and honest.

    They are uninterested and dishonest.

    Are you starting to see why it's important to know how they rank on these two factors before you reveal your idea?

    We're in negotiation now. Which, by the way, is selling. I am not a lawyer and this is not legal advice. What I am sharing is selling advice.

    You had better have your BANTA (Best Alternative to a Negotiated Agreement) figured out for each of these four possibilities.

    Copyrights, trademarks, patents are all helpful, but they are not bulletproof protection.

    Especially patents.

    Utility patents, for something like a zipper on an article of clothing being termed as a "device pocket", are the kind of thing Mark Cuban goes berserk about the silliness of. They're the veneer of protection.

    Regular patents only protect execution (see how we're back to that word again?) specifically the way you have explained it.

    So 3M has a patent on Post-It (tm) Notes.

    The patent is for a lightweight strip of glue running across the top of a small piece of paper.

    If you can come up with another way of temporarily securing the note to other objects without using lightweight glue, 3M's patent is meaningless. You can just go do that.

    That's why when you disclose your idea, the NDA is not really protection. If they can figure out another way of executing your idea, they're home free.

    If they are interested and honest, they will tell you so. They are ready to get started, will play by the rules, and you can expect to be paid properly. [SAFE]

    If they are interested and dishonest, they will tell you it's an airy-fairy idea, they don't like it, it won't work. But they were quick to agree to the meeting. And they kept asking you questions about how you planned to execute the idea. [DANGER]

    If they are uninterested and honest, they again will tell you so. It may be hard to book the meeting. They keep bumping the date. This may be a good opportunity for a reality check, and possibly getting execution ideas from someone who knows how to do the work but isn't going to get involved in it. [SAFE]

    If they are uninterested and dishonest, you are going to get the run-around. The meeting will take forever to get, or get booked and run so fast it's like poop through a goose. They may ask a lot of questions to "hedge their bets"...but they'll never execute. [SAFE]


    As you can see, most of the time, you are safe sharing your idea.

    Remember, execution is rare.

    People are already busy with their own ideas, which they believe to be valuable. They are unlikely to remove resources from those to execute your new idea.

    So overall, you are relatively safe from being ripped off...especially if you are careful who you share your idea with.

    How long it takes you to book the meeting, the process they want to follow, how they ask and answer questions...all these will show you their level of honesty. Easy come, easy go. There should be some rigor involved in setting up an agreement like this. Honest people will probably want to see you put some skin in the game, too.
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    • Profile picture of the author cashmonk
      Originally Posted by Jason Kanigan View Post

      Business is business, and that is a different world than personal relationships. Loyalty stands for very little, unfortunately. If you find a business associate who values loyalty, try to stay in touch with them.

      An NDA/non-compete and a licensing agreement should keep you protected, if you're going the road of giving the idea to someone else to execute.

      Let's talk about execution.

      This is how an idea's value can really be measured when you bring it to someone else.

      How interested are they in executing it?

      You have to know this before you meet and disclose the idea.

      And then you still have another factor to consider: honestly (or morality). Picture a 2 x 2 grid displaying four possible outcomes.

      They are interested and honest.

      They are interested and dishonest.

      They are uninterested and honest.

      They are uninterested and dishonest.

      Are you starting to see why it's important to know how they rank on these two factors before you reveal your idea?

      We're in negotiation now. Which, by the way, is selling. I am not a lawyer and this is not legal advice. What I am sharing is selling advice.

      You had better have your BANTA (Best Alternative to a Negotiated Agreement) figured out for each of these four possibilities.

      Copyrights, trademarks, patents are all helpful, but they are not bulletproof protection.

      Especially patents.

      Utility patents, for something like a zipper on an article of clothing being termed as a "device pocket", are the kind of thing Mark Cuban goes berserk about the silliness of. They're the veneer of protection.

      Regular patents only protect execution (see how we're back to that word again?) specifically the way you have explained it.

      So 3M has a patent on Post-It (tm) Notes.

      The patent is for a lightweight strip of glue running across the top of a small piece of paper.

      If you can come up with another way of temporarily securing the note to other objects without using lightweight glue, 3M's patent is meaningless. You can just go do that.

      That's why when you disclose your idea, the NDA is not really protection. If they can figure out another way of executing your idea, they're home free.

      If they are interested and honest, they will tell you so. They are ready to get started, will play by the rules, and you can expect to be paid properly. [SAFE]

      If they are interested and dishonest, they will tell you it's an airy-fairy idea, they don't like it, it won't work. But they were quick to agree to the meeting. And they kept asking you questions about how you planned to execute the idea. [DANGER]

      If they are uninterested and honest, they again will tell you so. It may be hard to book the meeting. They keep bumping the date. This may be a good opportunity for a reality check, and possibly getting execution ideas from someone who knows how to do the work but isn't going to get involved in it. [SAFE]

      If they are uninterested and dishonest, you are going to get the run-around. The meeting will take forever to get, or get booked and run so fast it's like poop through a goose. They may ask a lot of questions to "hedge their bets"...but they'll never execute. [SAFE]


      As you can see, most of the time, you are safe sharing your idea.

      Remember, execution is rare.

      People are already busy with their own ideas, which they believe to be valuable. They are unlikely to remove resources from those to execute your new idea.

      So overall, you are relatively safe from being ripped off...especially if you are careful who you share your idea with.

      How long it takes you to book the meeting, the process they want to follow, how they ask and answer questions...all these will show you their level of honesty. Easy come, easy go. There should be some rigor involved in setting up an agreement like this. Honest people will probably want to see you put some skin in the game, too.
      Jason Kanigan

      You are crazy genius.

      I am using this as a template going forward in how to look at options.

      I don't know if you came up with this or repeating something written else where.

      Either way...thank you buddy.

      You took the time to lay it out for me just like others did on this forum.

      Just wanted to drop you a line and tell you how much you are appreciated for digging deep for this idea.

      I am humbled by the time you have put in sharing.

      Thank you so much....
      CashMonk
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      • Profile picture of the author Jason Kanigan
        Originally Posted by cashmonk View Post

        Jason Kanigan

        You are crazy genius.

        I am using this as a template going forward in how to look at options.

        I don't know if you came up with this or repeating something written else where.

        Either way...thank you buddy.

        You took the time to lay it out for me just like others did on this forum.

        Just wanted to drop you a line and tell you how much you are appreciated for digging deep for this idea.

        I am humbled by the time you have put in sharing.

        Thank you so much....
        CashMonk
        Just an amalgamation of 20 years of experience.

        BANTA is a term from an old negotiation book called Getting To Yes. One of the useful things I remember from college.

        I started writing one thing, then realized that little matrix had to go in there.

        Sales, labor relations, negotiations. Franchise experience, too. There are some punks out there who like to say I don't know anything. Let them write something like that.

        Glad you appreciated it.
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  • Profile picture of the author AntonioSeegars1
    [DELETED]
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    • Profile picture of the author cashmonk
      Originally Posted by AntonioSeegars1 View Post

      Keep the information to yourself and build on your own. If you don't, you could end up like one of those geniuses working at Apple who gives their stuff away to a guy who makes billions and vacations on yachts, while their working long hours and making six figures.
      I can't deny it....you are absolutely correct. But I'm not a genius....(well....maybe a tad bit) but I just seen a guy who was almost there....but not so much. I'm just going to jump into it. I'm tired of being so careful. Once I get all the kinks out I'm going to spill the beans. If I get a bunch of good people...we can run circles around the company.
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  • Profile picture of the author cashmonk
    Ok....here is something similar ...if you are a Science Fiction buff then you know that the Syfy channel pulled a record breaking move via social networks never before seen with Sharknado 3. 2-3 billion Twitter impressions
    The impressions have been going up on every release of this cult series ,every year. They have demanded a Sharknado 4. They had no idea it was going to be that hot. Look it up ....see for yourself. Any way sometimes we can see trends and sometimes they just happen. Amazon as of this week has eclipsed Wal-Mart in revenue. Amazon now bigger than Wal-Mart.

    I am saying this because we are in some record breaking times. Possibilities are happening all over when the odds appear to be against it. If you really want a 6 or 7 figure business ...I believe more than ever it is within reach. I follow trends and there is a new trend emerging that is causing wide swings of a things to happen. It is a real short window . Enough said.
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    • Profile picture of the author Barry Unruh
      Originally Posted by cashmonk View Post

      Amazon as of this week has eclipsed Wal-Mart in revenue. Amazon now bigger than Wal-Mart.

      Unless Amazon grew by a factor of 5 since the end of last year, that would be inaccurate.

      Their market value has exceeded Walmart, but Walmart did $486 Billion in Revenue last year compared to Amazon's $89 Billion.
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