I have an idea for a new product for the NFL, would finding a group of investors be the next step?
Question:
i would get a patent or someone might steal your idea
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I would get a patent first. Your investors may get a patent before you do, then you have nothing.
Before discussing your idea with anyone...YOU WILL NEED to get them to sign a non disclosure..Meaning they are prohibit from sharing your idea with other and stealing your idea. This will protect you. In the event they do stick it to you, you have proof that the person stole the idea from you.
Yes, patent right away. It has several advantages:
1) you would know if your idea is truly unique or if others have already thought of it. That way, you don't waste investors time and your time in a failed idea.
2) if you are granted a patent, an investor would be more likely to give you money because no one else can steal that idea/product from you and you are the rightful owner. Also, they know you are committed to this idea and won't run with their money.
3) Investors actually can "see" what your idea is. They can better analyze the practicality of your idea and do a rough risk analysis of whether this might be a good investment for them. Seeing is believing for most people. Better than theory and ideas anyway.
Those are the top 3 reasons.
Best of luck with your idea!
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