People often ask me if you should talk to other people about what your idea is or should you have people sign a non-disclosure agreement (NDA). In 40 years of practicing law, I’ve only seen one lawsuit concerning an NDA. If you have a really good idea, meet with a patent attorney, see if there’s something you can file a provisional patent on, which will cost a few thousand dollars. You file that provisional patent, then you can go out and talk to other people about your idea. Knowing that you’re the first one to register. If there is no patent available for you, tell everybody about the idea anyway. You’re going to do it better than anybody else is. If somebody takes it from you, so be it. The real issue is if you don’t talk to people about your idea, you’re not going to be able to build the management team. Building that management team is critical to the success of your business.
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