Trade Secrets

Wikipedia the free on-line encyclopedia defines a trade secret as

"A formula, practice, process, design, instrument, pattern, or compilation of information which is not generally known or reasonably ascertainable, by which a business can obtain an economic advantage over competitors or customers. In some jurisdictions, such secrets are referred to as "confidential information" or 'classified information'."

Go read the whole Wikipedia article and follow its links and google it and look at other sources.

Sometimes people who start businesses get so defensive about the "trade secrets" of their business they are unable to get people to help them. One guy came to our mentoring team asking if his idea was worth patenting. He wouldn't tell us what the idea was so we couldn't help him. I don't know how he expected us to help him. You have to share with people what you're doing before they can agree to help. If you find a reliable person to approach they're going to understand the need for keeping your idea under wraps.

Most ideas are not all that revolutionary anyway. The God is in the implementation. Not until you commercialize the idea will you show that there is value in them worth stealing. You're generating cash. If you've not created anything worth stealing yet you were to sue somebody for "stealing" your idea, you wouldn't win because you haven't created anything worth stealing.

Don't get me wrong. Once your business gets going and you've produced the value you need to protect your processes and products from poaching. But don't get too hung up on it at the start. Spend your time, money, and attention attracting a talented team to help you develop your idea and get it to market.

The thing that will help you is in the implementation, not just the idea behind it.

Entrepreneurship is the life's blood of all my professional activities. It makes them go. And go read my mystery for free at wwww.kearneymusicschoolmurders.blogspot.com or buy it from Amazon.com more cheaply than you can print it out.