My Million Dollar Idea

46 replies
Hi All,

I have what I consider to be a million dollar idea.

I discreetly ran it past a couple of other people and their reaction show me that it really is a good idea.

It's true that ideas are a dime a dozen so I'm not laboring under any thoughts of riches from some big company "paying" me for my idea.

On the other hand I do not have the desire, energy or money it would take to do it. Most important here is desire.

So here is what I'm thinking.

I'll register the URL/Domain Name for the product.

This is THE name the product will have to have. No other will work.

I'll send the idea to the 3 or 4 major manufacturers that would create the product.

I'll blog about it, post about it on forums and then just wait for someone "steal" my idea and start to make the product. They will really need my URL and I'd sell it for the right price.

If my URL is registered way before the product is developed and if I'm on public record all over the internet as the originator of this idea will the BIG Bully corporation be able to take my URL for free just because they are the one with the patent, registered trademark or owner of the product.

If this flies I could make 10k or more and if it doesent I'm out $8.

George Wright, P.S. Yes of course I'll check with a lawyer before I start any trouble for myself. I'm just looking for some input from all my arm chair Warrior Lawyer friends, Also if any of the real lawyers here want to chip in that would be great.
#dollar #idea #million
  • Profile picture of the author Julian Lockhart
    depends

    Trademarks are funny animals.
    For something to be trademarked it has to be used in commerce.

    So you would have a hard time claiming a trademark with an idea.

    If a entity has a valid registered trademark but fails to defend it over time they will lose their rights.

    You could go to court and sue but that's just it you would have to PAY to try to win.

    Patents are better. You can just sit and wait until the company is as big as RIM or apple and then say "hey, you owe me $$$$$ for the use of my _______".
    This can make you very rich.



    Bit of a ramble, and

    I still like your idea.

    And thanks for the opportunity to take the "chair"
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    • Profile picture of the author Killer Joe
      George,

      I'll save you the time and trouble...

      Your scheme won't work for a lot of reasons. Not the least of which is if you do what you laid out in your post, and it is a patentable idea (I hold 4 US Patents but don't expect me to write a book here ) you just screwed the pooch.

      In essence, over time, what your plan will do is allow anybody and everybody to make and sell your idea without the need to compensate you in any way, shape, or form.

      Now, if it is a good idea why not try to do it the right way and see if you can profit from your idea.

      KJ
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      • Profile picture of the author l23bc
        Originally Posted by Killer Joe View Post

        George,

        I'll save you the time and trouble...

        Your scheme won't work for a lot of reasons. Not the least of which is if you do what you laid out in your post, and it is a patentable idea (I hold 4 US Patents but don't expect me to write a book here ) you just screwed the pooch.

        In essence, over time, what your plan will do is allow anybody and everybody to make and sell your idea without the need to compensate you in any way, shape, or form.

        Now, if it is a good idea why not try to do it the right way and see if you can profit from your idea.

        KJ
        quite agree with killer joe on this and here's why

        im sorry to say also the internet is public domain meaning me u or anyone can come along with a idea and market that idea but as us all know us marketers can only draw a line in the sand if a big company start the product then your plans they could also

        if you try to sue or take action can counter claim against you saying they taken the idea further and devoloped it into their own brand, meaning the idea you had in the first place has been taken and used to devoloped their ideas but not copy unless like some people had said in here you had the idea patient protected.

        pretty planned idea but i would not try it sorry to say
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  • Profile picture of the author George Wright
    Points taken,

    However, I WANT them to steal my idea. I want someone to make the product. I have no desire to pursue that end of it. It's just that once a company goes forward with my idea, even if they trademark the name, I will own the url.

    They will need my URL. No other URL will work, not a similar one, there is no other URL that will work.

    It's like if I owned the URL Business.com only smaller

    I won't even be "greedy" $10k will probably be fine.

    Steal my idea, patent it, register the name. Buy the URL from me. They would have to buy it for $8 from the registrar. If I already have it..... ???

    So if I own the URL for months before they even get the idea and if I "introduce" the idea first can they force me to give up my URL?

    Let's illustrate it this way.

    If I thought of the Mouse Trap and I registered the MouseTrap.com and then put out the plans for a mouse trap all over the net and sent the plans to several manufacturers.

    Now one of them Patents the Mouse Trap, Registers the trademark Mouse Trap but I already own the URL MouseTrap.com Can they strong arm me into turning the URL over to them?

    George Wright
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    • Profile picture of the author Killer Joe
      George,

      You're making me work too hard

      If you do what you say you would do the idea will no longer be patentable. It will become public domain because of your actions.

      Yes, you will own the domain, and if that domain has value you may see paydirt. But since you made the idea unpatentable, and you didn't Trademark the name they will both have attributes that fall into the public domain.

      Fwiw, I have a friend, a fellow inventor who holds 10 Patents, and he WANTS people to steal his ideas for the very same reason you do. That part is not out of the ordinary. But here's the difference...he owns the Patents.

      KJ
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  • Profile picture of the author Jared Alberghini
    OK... here's my million dollar idea(s) that I'm actually working on:

    Start your own Social Networking "Niche" Website, (in any niche, doesn't really matter...).

    My favorite open source Social Networking software at the moment is Elgg.
    ( Elgg - Open Source Social Networking and Social Publishing Platform. )

    To me, Elgg looks/feels like the "Wordpress" of Social Networking software.

    It's a cross between running your own Facebook/Twitter/Discussion Forum software... it simply rocks.

    If you look at the past progressions from BBS software, to Forums, now Social Networking Platforms are at the cutting edge.

    I bet whoever starts their own "niche" social network now, will be ten steps ahead of the game.

    P.S. Another option, is to start your own social network at Ning.com ( Ning lets you create and join new social networks for your interests and passions. ) which is like the "wordpress.com" of social networking software... I suggest Elgg.org Self Hosted, over Ning...
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    • Profile picture of the author Killer Joe
      Ning has over 1 million social networks.

      I'm not sure how many of those are knocking down the door to Fort Knox, but THIS is a completely doable idea.

      KJ
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      • Profile picture of the author Jared Alberghini
        Originally Posted by Killer Joe View Post

        Ning has over 1 million social networks.

        I'm not sure how many of those are knocking down the door to Fort Knox, but THIS is a completely doable idea.

        KJ

        Hit me up with a PM if you are seriously interested in helping me start-up some social networks...

        You can mess around with the latest version of elgg that I have installed / currently testing here:

        Affiliate Niche Monster / Network

        .jrd
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  • Profile picture of the author chris.crittenden
    Well if it was my idea. I would want to run it the way I want. There are too many ways to make a business run and so many ways to market it. I don't think I would like the idea of someone else taking my idea and molding it to where they see fit.
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    • Profile picture of the author Kevin AKA Hubcap
      Hi George

      I'm having trouble getting past the 'no other domain will work' part. Could you provide any further explanation why the only domain that will work is the one you own.

      Also, if the idea is as good as you say why not patent as KJ suggested. That seems like a more effective way to bring in the cash.

      Kevin
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      • Profile picture of the author Julian Lockhart
        You might have a good way to sell a domain for a premium.

        Insane inventor says "Steal my patented invention with the purchase of buildabettermoustrap.com"

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      • Profile picture of the author Eric Land
        Hey George,

        I have a question for you, you say you want to purchase the domain and have some manufacture make the product because you have no desire to and then you will make money off the domain.

        Just a thought why instead of making some random manufacture rich with this idea why not share the idea with some warriors to at least make people you know / like rich?

        Eric
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      • Profile picture of the author George Wright
        Originally Posted by Kevin AKA Hubcap View Post

        Hi George

        I'm having trouble getting past the 'no other domain will work' part. Could you provide any further explanation why the only domain that will work is the one you own.

        Also, if the idea is as good as you say why not patent as KJ suggested. That seems like a more effective way to bring in the cash.

        Kevin
        Keven,

        Here are two examples. Let's say I thought of the idea for the design and use of the common mouse trap.

        I own the name mousetrap.com

        I suppose the manufacturer could call it mouse snapper, mouse catcher, mouse stopper, rodent trap, and any other name. However Mouse Trap really works the best. So they should be willing to pay me a modest sum for mousetrap.com

        My idea is even more specific. My name is the only one that will work for my idea.

        Also business.com other names would "work" for the site but business.com was the best.

        My url would not get me anywhere near what business.com sold for but still it would make me happy.

        George Wright
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        • Profile picture of the author CDarklock
          Originally Posted by George Wright View Post

          I suppose the manufacturer could call it mouse snapper, mouse catcher, mouse stopper, rodent trap, and any other name. However Mouse Trap really works the best.
          No it doesn't. A mouse trap doesn't trap the mouse at all. It kills the mouse. The name "mouse trap" is completely inaccurate. So when you have a product that actually traps the mouse, you can't call it a mouse trap.

          Which is why Whitmire Micro-Gen called it the Mouse Master.

          And it sells quite well, despite mousemaster.com being a spammy little parked domain where someone has undoubtedly tried to email the Mouse Master people several times to remind them that people are just not going to buy the product if they can't type "mousemaster.com" in their browser.

          But "wmmg.com" seems to work just fine for them. Although they've now been merged with BASF, another subsidiary of S.C. Johnson.

          Hey! Do you suppose they haven't bought mousemaster.com because they can't afford it?! I mean, how much money could S.C. Johnson have, anyway? Tiny little fly-by-night company, I'm sure.

          I'm not saying it's a bad idea to create something and buy the domain related to it. I'm saying it's completely delusional to think you have the one and only name that could possibly be used for the product. What, exactly, stops the manufacturer from calling it the Throckmorton?
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          • Profile picture of the author George Wright
            Hi CDarklock,

            Your mouse trap analogy is great for the mouse trap illustration. However my name is really the only and best name for my idea. there are absolutely no better workarounds. Oh they could call it anything. My name is the only one that makes sense.

            Then again, back to the url mousetrap.com I bet someone would pay $10k for it. That's all I'm talking about. Remember, I'm not going to be asking millions for this.

            George Wright P.S. how did you guess it???? Throckmorton


            Originally Posted by CDarklock View Post

            I'm saying it's completely delusional to think you have the one and only name that could possibly be used for the product. What, exactly, stops the manufacturer from calling it the Throckmorton?
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            • Profile picture of the author CDarklock
              Originally Posted by George Wright View Post

              George Wright P.S. how did you guess it???? Throckmorton
              Since I've been using that term since 1998, we might have a trademark dispute if you do that... depending on your product's industrial category.
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              "The Golden Town is the Golden Town no longer. They have sold their pillars for brass and their temples for money, they have made coins out of their golden doors. It is become a dark town full of trouble, there is no ease in its streets, beauty has left it and the old songs are gone." - Lord Dunsany, The Messengers
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  • Profile picture of the author billaaa777
    The reason it won't work is simple. If they like the idea and make the product they will just change its name. This your URL is worthless.
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    • Profile picture of the author George Wright
      Originally Posted by billaaa777 View Post

      The reason it won't work is simple. If they like the idea and make the product they will just change its name. This your URL is worthless.
      There is only one name for the product. No other name will work.

      George Wright
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      "The first chapter sells the book; the last chapter sells the next book." Mickey Spillane
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      • Originally Posted by George Wright View Post

        There is only one name for the product. No other name will work.

        George Wright
        This sounds a lot like an achilles heel. If this is truly the case, register the domain and spill the beans. It's the only name that will work, right?
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  • Profile picture of the author Matt Gannon
    This seems like the idea I have, except I would buy the domain names of new upcoming actors and wait for them to make it big, and hopefully try to sell the domain to them.
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    • Profile picture of the author Glenn Leader
      Originally Posted by Matt Gannon View Post

      This seems like the idea I have, except I would buy the domain names of new upcoming actors and wait for them to make it big, and hopefully try to sell the domain to them.
      That would be cyber squatting, and you could be prosecuted for it.
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      • Profile picture of the author George Wright
        Glen,

        That's what I was wondering. I was wondering because the product hasn't been made yet. No one has done this at all. It really is "my" idea and a company will have to take the idea, make the product and then they will want my name.

        But, I was wondering, after the fact, if that would be a form of cybersquatting.

        So as it's been said All I have to do is register the trademark myself to establish for real it's my idea. The name isn't registered, the URL is mine and the idea isn't even talked about anywhere on the Internet.

        Thanks,

        George Wright

        Originally Posted by Glenn Leader View Post

        That would be cyber squatting, and you could be prosecuted for it.
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        • Profile picture of the author Kingdom_Mines
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          • Profile picture of the author George Wright
            Originally Posted by Kingdom_Mines View Post

            You know i am also a manufacturer and the business name is kingdom mines and operational since 1965, but some other clown has registered the domain kingdommines.com so i am stuck with a .tk domain.

            One things for sure i am not giving into his demands, as i he can keep the domain as i own the products, hee haw to him.

            See Mr. wright, not everyone will roll over and die

            Ricky
            Good point. But, asking a fair price for a great name is not asking a multimillion dollar company to roll over and die. It's just asking to be duly compensated in one way or another for one's ideas. I'm just going about it in an unconventional way.

            Personally I don't think some of people "get" what I'm talking about. My fault. (note to self. improve communication skills)

            George Wright
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  • Profile picture of the author billaaa777
    There is only one name for the product. No other name will work.
    Keep telling yourself that over and over and someday it might come true.
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    • Profile picture of the author George Wright
      Originally Posted by billaaa777 View Post

      Keep telling yourself that over and over and someday it might come true.
      LOL,

      It's already true.

      George Wright
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      • Profile picture of the author Kay King
        I think some are confusing trademarks with patents.

        You can trademark a name - but it's unusual for a product to be so closely associated with one name before it's even produced.

        You can't patent an idea - you need a product....but you can apply to register a trademark for the name. Long shot...but it's $8. Question is - is the name unique enough that you CAN trademark it?

        IANAL - but sounds like fun to me. I've heard of crazier things.

        kay
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        • Profile picture of the author George Wright
          Kay,

          You are saying it only costs $8 to apply to trade mark a name? I don't know how much it costs. I never checked.

          Originally Posted by Kay King View Post

          I think some are confusing trademarks with patents.

          You can trademark a name - but it's unusual for a product to be so closely associated with one name before it's even produced.

          You can't patent an idea - you need a product....but you can apply to register a trademark for the name. Long shot...but it's $8. Question is - is the name unique enough that you CAN trademark it?

          IANAL - but sounds like fun to me. I've heard of crazier things.

          kay
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  • Profile picture of the author Will Edwards
    Interesting - I had a similar idea that depended upon a particular domain being available too & I also did not pursue it. I just checked and the domain is still available too. I don't know perhaps I'll have a go at it one day - if you didn't steal my idea first that is (lol).

    With regard to your question though, even if they Trademarked, I think you would have some kind of case since you would have priority in the registration of the domain. To be on the safe side, it may be worth you exploring what it costs to get a Trademark for your idea.

    Good luck.

    Will
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  • Profile picture of the author George Sepich
    Originally Posted by George Wright View Post

    Hi All,

    I have what I consider to be a million dollar idea.

    I discreetly ran it past a couple of other people and their reaction show me that it really is a good idea.

    It's true that ideas are a dime a dozen so I'm not laboring under any thoughts of riches from some big company "paying" me for my idea.

    On the other hand I do not have the desire, energy or money it would take to do it. Most important here is desire.

    So here is what I'm thinking.

    I'll register the URL/Domain Name for the product.

    This is THE name the product will have to have. No other will work.

    I'll send the idea to the 3 or 4 major manufacturers that would create the product.

    I'll blog about it, post about it on forums and then just wait for someone "steal" my idea and start to make the product. They will really need my URL and I'd sell it for the right price.

    If my URL is registered way before the product is developed and if I'm on public record all over the internet as the originator of this idea will the BIG Bully corporation be able to take my URL for free just because they are the one with the patent, registered trademark or owner of the product.

    If this flies I could make 10k or more and if it doesent I'm out $8.

    George Wright, P.S. Yes of course I'll check with a lawyer before I start any trouble for myself. I'm just looking for some input from all my arm chair Warrior Lawyer friends, Also if any of the real lawyers here want to chip in that would be great.
    Ludicrous, Atrocious, don't you dare do this. There are only so many original ideas available and WHO ARE YOU to think that you can come into this forum and tantalize us with your million dollar ideas?

    This insanity has to stop right now. Please send me your entire idea, with just a little note that declares I have all exclusive rights to it. That will be fine.

    George
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    • Profile picture of the author bobsstuff
      I say go for it. $8 a year is a small price --- you can even park it somewhere and generate a little imcome.

      As to selling it or having it "claimed by the new product creator", who knows how our courts would look at it, HOWEVER, it they sued you for the domain name, could you afford the court costs even if you won? That is one I often wonder about in various little guy, verses big guy with deep pockets.
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  • Profile picture of the author nicholasb
    what you would want to do is patent the idea, before you tell it to anyone especially big companies, they will quickly take advantage of your kindness,

    after you patent it you can license it out to them, in other words make them pay you for the rights to use it.
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  • Profile picture of the author John Taylor
    George,

    I don't know about the costs elsewhere, but
    I recently worked with a friend who paid in
    the region of £3,000 for a UK patent.

    I'm guessing that's a little more than $8 even
    with an advantageous exchange rate. ;-)

    John
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    • Profile picture of the author lisag
      Originally Posted by John Taylor View Post

      George,

      I don't know about the costs elsewhere, but
      I recently worked with a friend who paid in
      the region of £3,000 for a UK patent.

      I'm guessing that's a little more than $8 even
      with an advantageous exchange rate. ;-)

      John
      A trademark and a patent are two entirely different animals. Patents are an order of magnitude more expensive.

      I recommend George patent the idea and then let the big companies license the patent. Up-front fees and royalties are quite common. Instead of walking away with 10k for a domain name (if he gets anything at all), he could be set up for life if it's a hit.

      I own the name mousetrap.com

      I suppose the manufacturer could call it mouse snapper, mouse catcher, mouse stopper, rodent trap, and any other name. However Mouse Trap really works the best. So they should be willing to pay me a modest sum for mousetrap.com
      Big companies have employees who do nothing else for a living than come up with product names. Remind me to tell you some day the conversation that occurred when Anusol was being named. Anusol - Wikipedia, the free encyclopedia
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  • Profile picture of the author Nikhil V Nair
    I am sorry to say that I am not impressed by your idea.It definitely consumes your time and energy but doesn't guarantee the result you expect. LUCK plays a very important role in your idea.My suggestion is not to let your life depend on luck.I encourage you to implement this idea if you plan to spent a very little time for this so that you can actually experience the result of your idea.We also will be benefited from the result

    ~Nikhil V Nair
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    • Profile picture of the author George Wright
      Hi,

      LOL LOL, You couldn't possibly be impressed with my Idea because you do not know what it is. If you knew it would knock your socks off. And "luck" has nothing to do with it. Nothing at all.

      It hasn't consumed any of my time or energy except the time and energy I have put into this thread, and as usual posting here is very enjoyable, not a chore at all.

      The only issue I'm trying to get a grasp on is if and when I present my idea to a company if they can force me to give up my URL without paying me.

      George Wright

      Originally Posted by Nikhil V Nair View Post

      I am sorry to say that I am not impressed by your idea.It definitely consumes your time and energy but doesn't guarantee the result you expect. LUCK plays a very important role in your idea.My suggestion is not to let your life depend on luck.I encourage you to implement this idea if you plan to spent a very little time for this so that you can actually experience the result of your idea.We also will be benefited from the result

      ~Nikhil V Nair
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  • Profile picture of the author Annie Dennis
    Ok, I'm from NZ so I'm guessing the patent laws are different where you are, why don't you look into doing an "Intent To Patent" though, gives you a lot more protection than a URL or Trademark, because lets face it, if you have a valuable business but the big players don't want to pay for the URL you own, they'll find a way around it. Have a chat with a patent attorney, I think if you file a disclosure statement with the Patent Trademark Office they retain it for 2 years, believe this gives you some rights and it's a lot more cost effective than paying to have something patented straight out. Best speak with a patent attorney though ;-)

    Annie
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  • Profile picture of the author dealers
    ...will it sell? Most patented items never get to market. Is it better to bring your idea to market (with minimal intellectual protection) to see if it is worth all the effort? You can spend a lot of time and money protecting an idea that proves to have no legs...
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  • Originally Posted by rbecgolf View Post

    Speculative investment with your time is just as crazy as speculative investment with your money. Enough said.
    All investment is speculative. Some is riskier, but it's all speculative. Even putting your money under your mattress is speculative -- you're speculating that nobody will break into your house and toss your mattress.
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    • Profile picture of the author Kingdom_Mines
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      • Profile picture of the author DeePower
        George:

        I've worked with a lot of companies, venture capitalists, investors, entrepreneurs and inventors.

        Yes, you could lose the domain. All it would take is for the company to initiate litigation. If they have in house attorneys they are out nothing except the cost of filing the paperwork. You would have to defend and it would cost thousands just to have an attorney review the legal documents. The actual court proceeding could take more than a year.

        BTW I don't believe ideas are patentable. Processes are but not just the idea.

        Dee
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  • Profile picture of the author Philarmon
    As far as i know if you have registered a domain BEFORE someone register a trademark for this term, they can't just take it away from you. Otherwise i could register trademarks for "warriorforum" and "webmasterworld" and take over the sites the next month
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    • Profile picture of the author DeePower
      Philaron

      It doesn't matter when you registered a site or even if you have legal rights to a site or domain. If the other party has deep legal pockets and you don't, you lose.

      The other side files a lawsuit. You don't respond or file incorrectly. Other sides goes for a default judgment. Court sees you haven't responded they award the default judgment to the other party. Case closed.

      Dee
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      • Profile picture of the author George Wright
        So Dee,

        What does a poor boy do?

        George Wright

        Originally Posted by DeePower View Post

        Philaron

        It doesn't matter when you registered a site or even if you have legal rights to a site or domain. If the other party has deep legal pockets and you don't, you lose.

        The other side files a lawsuit. You don't respond or file incorrectly. Other sides goes for a default judgment. Court sees you haven't responded they award the default judgment to the other party. Case closed.

        Dee
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      • Profile picture of the author Julian Lockhart
        Originally Posted by DeePower View Post

        Philaron

        It doesn't matter when you registered a site or even if you have legal rights to a site or domain. If the other party has deep legal pockets and you don't, you lose.

        The other side files a lawsuit. You don't respond or file incorrectly. Other sides goes for a default judgment. Court sees you haven't responded they award the default judgment to the other party. Case closed.

        Dee
        This post get's my vote for the most accurate tip of the day.

        It's amazing how many people think otherwise.
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  • Profile picture of the author Nido
    I know a guy who bought Toyota.com and few other big name companies back in the day and he was got a FedEx package telling him to give them back or deal with their lawyers since they already had the name. On the other hand, If you register the domain before the name was trademarked...then you're good to go.

    But I think your Idea has to be one of the most time consuming things one can ever do. Good luck. You'll need it lol
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  • Profile picture of the author kindsvater
    Hey George,

    Thanks for the idea. I flipped the words in your product name, registered the domain, and am having the product created.
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  • Profile picture of the author Hamish Jones
    Originally Posted by George Wright View Post

    Hi All,

    I have what I consider to be a million dollar idea.

    I discreetly ran it past a couple of other people and their reaction show me that it really is a good idea.

    It's true that ideas are a dime a dozen so I'm not laboring under any thoughts of riches from some big company "paying" me for my idea.

    On the other hand I do not have the desire, energy or money it would take to do it. Most important here is desire.

    So here is what I'm thinking.

    I'll register the URL/Domain Name for the product.

    This is THE name the product will have to have. No other will work.

    I'll send the idea to the 3 or 4 major manufacturers that would create the product.

    I'll blog about it, post about it on forums and then just wait for someone "steal" my idea and start to make the product. They will really need my URL and I'd sell it for the right price.

    If my URL is registered way before the product is developed and if I'm on public record all over the internet as the originator of this idea will the BIG Bully corporation be able to take my URL for free just because they are the one with the patent, registered trademark or owner of the product.

    If this flies I could make 10k or more and if it doesent I'm out $8.

    George Wright, P.S. Yes of course I'll check with a lawyer before I start any trouble for myself. I'm just looking for some input from all my arm chair Warrior Lawyer friends, Also if any of the real lawyers here want to chip in that would be great.
    It could work. It's worth a try.

    A big corporation could side step you though with their high priced lawyers making sure their product is 'different' enough.
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