When Ideas Are Not Enough

Without a business plan investors can’t be sure that you have any idea how to control the growth of your company. Investors want to know that you have identified the risks of growth and how you expect to achieve growth. Where will you be in three years? In five? In ten?

Investors want to know how you will attract customers, how you will deliver the goods and services, and in general how you will make money and how much money that will be.

If all you have is a great idea without the wherewithal to turn it into a business than all you have is a fantasy.

Another criteria for a patent is that “The invention must not have been “disclosed” to the public prior to the application for the patent.” So if you’ve been posting on Facebook about your idea or if you blogged about it the law basically sees the situation as you having given your idea away. Of course not everyone is looking to patent an idea, but these two questions provide you with a good idea of the line drawn by the law as far as whether or not someone stole your idea or if you gave it away.

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