How to Protect your Tech Business’ Ideas

Theft of any kind is never pleasant – after all you’re having something that belongs to you, unwillingly taken away. We often equate theft to physical objects, however the theft of intellectual property can be just as distressing.

This is particularly relevant in the tech industry, as a key part of this niche is innovation and coming up with new and useful products or services. So, what can you do to stop this from happening?

Fortunately, there are a number of steps you can take to keep your tech business’ ideas safe, these include:

Choose your Clients Carefully

Before you start discussing or sharing your ideas with others, make sure you do the research first to find out whether these people can be trusted. While securing investment and support is important for a growing tech business, you should check to see which clients these people have dealt with in the past and how they conduct themselves.

Get a Patent

A tried and tested way to make sure your ideas are protected is to pay for a patent. The costs of this can vary though depending on what it is you want to claim as your own. On top of this, you may need expert help to draw up the patent agreement, as this can be challenging without the right skillset.

Agree NDAs

Another option is to write up NDAs (or Non-Disclosure Agreements) before you meet with any investors or clients. By getting them to sign these before you speak with them, you then legally stop them from discussing or sharing your ideas with anyone else.

Keep your Ideas to Yourself

One of the simplest courses of action to take is to simply keep your ideas to yourself for the time-being, while you’re still in the development stage. Wait until your idea is fully formed before you start sharing it with investors – this way you’ll be able to identify intellectual theft much easier.

What to do if You Suspect Intellectual Property Theft?

For a final piece of advice, if you feel your ideas might have been stolen, the best course of action is to seek professional support. Companies like Withers can provide you with guidance and help you to investigate your case. This way you can know for sure if your ideas have been compromised. So, don’t continue to run the risk of losing your intellectual property; consider the above advice and make sure your tech business’ ideas are kept safe and secure.

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