You have an idea. A good idea. No, a great idea! You may not have all the pieces in place but the concept is a good one, it's been scrutinized, tested, analyzed, reverse-engineered and vetted. So now what?
Well, you can't copyright an idea. Ideas are all around you. Innovation is more than a buzzword, it's a business mantra. So, how do you turn that great idea into capital - money that provides an improved standard of living for you and your family. Click here to learn more about Capital One Login online.
The road from concept to capital is bumpy. There are scam artists, pitfalls unseen by the uninitiated and challenges that will, no doubt, be new to you. However, if that concept is a good one (and it is) you must take the initial steps toward greater financial security and reward for your far-horizon thinking.
Formalize the Concept
Put it in writing. Fill in as many blanks as possible. Questions to consider at this first stage of concept development include:
What benefits does this product or service deliver to the end user?
What problems does this product or service solve and for whom? The for whom part is the target demographic for the concept - the ideal buyer.
Do you have title (ownership) of the idea or concept? Researchers in both the academic and business realms may not have complete, legal ownership of an idea. By contract, the idea may actually belong to the institution paying your salary. Good to check that out early.
If the concept is, indeed, the intellectual property of an institution, contact the university's office of commercialization for details on submitting your concept for peer review and consideration for university cooperation in bringing the concept or product to market.
If you're certain the idea is wholly your own, prepare a formal report describing the product specifications, schematics, illustrations, test results and other data. This report should be as detailed and as professional as you can make it.
Have the report dated and notarized. Make copies and keep them in a secure place.
Do NOT tell others about your idea. Again, you can't copyright an idea and at this early stage, you still don't own anything - at least not legally. Intellectual property (your idea) theft is common in highly competitive or vertical markets so keep your idea under wraps for the moment.
Your university or employer. If your concept is, in fact owned in part by your employer - a university - you already have a partner. Chances are, there's a clause in your work contract or university regulations that claims ownership of any concept developed while in the school's employ and using school facilities. Obviously, this prevents innovators from exploiting the resources of others for their own gain. Fair enough, and in fact, not a bad way to go.
Paretnering with a deep pockets stakeholder like a university solves a number of business headaches that you don't need and may not be able to overcome. In fact, many universitites have depatments and programs to bring concepts to commercialization available to current faculty, staff and students and past acamadecians and alumni seeking a reliable, knowledgeable partner.
The university, in this case, usually assumes ownership of the concept and takes the necessary legal steps to protect their property - your concept. University legal staff apply for a temporay patent, file a copyright or trademark the brand. These intellectual property legal experts are tasked with protecting the institution's against various infringement exposures. And they can do it faster and more efficiently than you, the innovator, can. For more info visit Capital One Login.
Write something about yourself. No need to be fancy, just an overview.