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filler@godaddy.com
Protecting Your Invention from Unqualified Advisers
When your invention is finally completed, tested, and verified to be genuinely important, many people close to you may become excited and start making plans to help you succeed.
Even if some of these people hold high-profile technical positions in your sector or are British ambassadors, remember that this does not necessarily mean they have the experience required to advise you on how to launch your invention safely.
No company has appointed them as specialist consultants responsible for protecting inventors from the risks associated with bringing a new invention to market, including the possibility of having your intellectual property copied, even by well-established companies.
Even if their involvement leads to some initial successes, you will encounter unexpected risks very quickly and potentially lose control of your invention, and your intellectual property.
Dangers of relying on unqualified advisers include:
1. Introducing you to potential clients without adequate protection
They may introduce you to potential clients, after which the client's employees could delay placing an order while repeatedly asking for additional technical details about your invention.
This information could lead to understanding how to copy your IP>
2. Introducing you to investors with hidden agenda
They may introduce you to investors who initially appear to offer valuable funding, but whose investment could eventually put pressure on you to accept an early exit before your invention has reached its full potential.
In some circumstances, investors may have relationships or financial arrangements with companies that could ultimately acquire your business, and they become wealthy from your invention and not you.
3. Discouraging you from working with key experts who could help you succeed safely
They may advise you not to partner with the right highly influential or strategically important individuals who could make a significant contribution to your success.
One possible concern is that they may fear losing their own influence over you if you establish relationships with other powerful, knowledgeable, and well-connected people.
The key lesson
Enthusiasm, status, personal connections, or a distinguished professional position do not necessarily equal specialist expertise in protecting intellectual property, commercialising inventions, negotiating investment agreements, or managing the risks involved in bringing a new technology to market.
The people closest to you may genuinely want to help, but good intentions are not a substitute for specialist knowledge and experience.
