how to prevent your idea from being
stolen on Kickstarter so I got a great
question from one of my youtube viewers
love you guys Augusta who wrote in to
say great info Evan I just subscribed to
your channel Thank You Augusta question
same idea they’re on Kickstarter and
it’s not patented yet someone could
steal my idea how do I go about this so
this is a real fear if it does you who
aren’t aware with Kickstarter it’s a way
to raise money for a new idea you’re not
giving up a percentage of your business
but you’re pre-selling so it’s pre-sales
it’s now I’m going to make this product
whoever wants to buy it you can pay in
advance and then I’ll make it and if you
don’t make enough money then you
probably don’t make the product there is
a big real concern though that if you
put up your ideas on Kickstarter other
people could come in scoop it and run
with it themselves and say hey that’s a
great idea I’m going to do it myself how
do you prevent that from happening so
there are two main ways okay first one
is remember with the patent a patent to
get a patent is a really technical
process if you put up the technical
details on Kickstarter it’s going to be
boring
okay Kickstarter is a marketing website
and so what I would geared towards is
explain the benefits of it and not so
much how it works
because I don’t care how it works I care
about the benefits I’m going to get from
it and so this is something like often
happen at when we were raising capital
it was in the venture capital business
entrepreneurs and veterans would come to
us and say hey we need you to sign this
confidentiality agreement which we never
signed because we see so many deals but
it doesn’t matter because I don’t care
how your thing works it doesn’t matter
to me I just need to know that it works
right and so for the people watching the
people are going to invest money into
this and preorder them whatever you’re
selling I didn’t tell me what it was
whatever you’re selling I don’t care how
it works I just want to know that it
works then I get whatever benefit from
it so focus on the market inside focus
on the benefits and not the specifics
that makes it harder to reverse-engineer
makes it harder for somebody else
come up and say I’m going to copy them
exactly so you don’t have to share all
the schematics and diagrams and the
technical details so that will protect
you the second way is ideally you want a
patent ok the patent gives you solid
protection but the first step typically
is a provisional pen and provisional
patents are easier to get it gives you
wider coverage and are not nearly as
expensive and there’s no annual
maintenance fee what it does is
basically the idea for Bishop
provisional patents is to give
entrepreneurs and inventors a year to
test out the idea so to see can I
commercialize this can I make money from
this and after that yours up you have to
decide am I going to go and get the
patent or not and spend all the money on
it so what you could do is if you think
you have this great idea you get a
provisional patent for it you put it up
on Kickstarter you have a year to go out
and make money and raise money and then
get some sales and see if this is
something that people really want and if
you’re making money from it then you can
go and afford to get the patent if it
totally dies on you know there’s zero
interest nothing is happening then you
have to make the tough call of after
that year do you want to go for the full
patent or not keep in mind though with a
patent you still have to enforce it the
most expensive part about a patent is
enforcing it because people can look at
what you’re doing
and do it themselves and then you have
to go sue them to say you can’t do this
you can’t steal my idea and you don’t
have typically two pockets entrepreneurs
don’t have the pockets to do it the way
to make money with a patent is to
typically license it or sell it to a big
company so I get to fear it’s a real
fear on Kickstarter you know you don’t
want to share your idea with the world
and have somebody else come in and scoop
it and make millions you know offer your
idea so remember those two things okay
keep it simple with the market and the
benefits not the technical details so
it’s harder for somebody to reverse
engineer and then try to get a
provisional patent on your idea so you
get some protection and you
a year to decide if you want to go for
the full patent or not believe those are
watching like the video give it a thumbs
up below let me know what you think
leave a comment underneath
ask me a question underneath I make a
video response just like this one and
click on my face to subscribe to the
channel and see more videos like this
thank you so much I’ll see you soon
stolen on Kickstarter so I got a great
question from one of my youtube viewers
love you guys Augusta who wrote in to
say great info Evan I just subscribed to
your channel Thank You Augusta question
same idea they’re on Kickstarter and
it’s not patented yet someone could
steal my idea how do I go about this so
this is a real fear if it does you who
aren’t aware with Kickstarter it’s a way
to raise money for a new idea you’re not
giving up a percentage of your business
but you’re pre-selling so it’s pre-sales
it’s now I’m going to make this product
whoever wants to buy it you can pay in
advance and then I’ll make it and if you
don’t make enough money then you
probably don’t make the product there is
a big real concern though that if you
put up your ideas on Kickstarter other
people could come in scoop it and run
with it themselves and say hey that’s a
great idea I’m going to do it myself how
do you prevent that from happening so
there are two main ways okay first one
is remember with the patent a patent to
get a patent is a really technical
process if you put up the technical
details on Kickstarter it’s going to be
boring
okay Kickstarter is a marketing website
and so what I would geared towards is
explain the benefits of it and not so
much how it works
because I don’t care how it works I care
about the benefits I’m going to get from
it and so this is something like often
happen at when we were raising capital
it was in the venture capital business
entrepreneurs and veterans would come to
us and say hey we need you to sign this
confidentiality agreement which we never
signed because we see so many deals but
it doesn’t matter because I don’t care
how your thing works it doesn’t matter
to me I just need to know that it works
right and so for the people watching the
people are going to invest money into
this and preorder them whatever you’re
selling I didn’t tell me what it was
whatever you’re selling I don’t care how
it works I just want to know that it
works then I get whatever benefit from
it so focus on the market inside focus
on the benefits and not the specifics
that makes it harder to reverse-engineer
makes it harder for somebody else
come up and say I’m going to copy them
exactly so you don’t have to share all
the schematics and diagrams and the
technical details so that will protect
you the second way is ideally you want a
patent ok the patent gives you solid
protection but the first step typically
is a provisional pen and provisional
patents are easier to get it gives you
wider coverage and are not nearly as
expensive and there’s no annual
maintenance fee what it does is
basically the idea for Bishop
provisional patents is to give
entrepreneurs and inventors a year to
test out the idea so to see can I
commercialize this can I make money from
this and after that yours up you have to
decide am I going to go and get the
patent or not and spend all the money on
it so what you could do is if you think
you have this great idea you get a
provisional patent for it you put it up
on Kickstarter you have a year to go out
and make money and raise money and then
get some sales and see if this is
something that people really want and if
you’re making money from it then you can
go and afford to get the patent if it
totally dies on you know there’s zero
interest nothing is happening then you
have to make the tough call of after
that year do you want to go for the full
patent or not keep in mind though with a
patent you still have to enforce it the
most expensive part about a patent is
enforcing it because people can look at
what you’re doing
and do it themselves and then you have
to go sue them to say you can’t do this
you can’t steal my idea and you don’t
have typically two pockets entrepreneurs
don’t have the pockets to do it the way
to make money with a patent is to
typically license it or sell it to a big
company so I get to fear it’s a real
fear on Kickstarter you know you don’t
want to share your idea with the world
and have somebody else come in and scoop
it and make millions you know offer your
idea so remember those two things okay
keep it simple with the market and the
benefits not the technical details so
it’s harder for somebody to reverse
engineer and then try to get a
provisional patent on your idea so you
get some protection and you
a year to decide if you want to go for
the full patent or not believe those are
watching like the video give it a thumbs
up below let me know what you think
leave a comment underneath
ask me a question underneath I make a
video response just like this one and
click on my face to subscribe to the
channel and see more videos like this
thank you so much I’ll see you soon
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