Protect your product. This is very important when developing new products for the market within your country. You will want to protect your ideas and the product you have invested so many days, months and years on. Think about the following possibilities throughout the your process at reaching a finished product to market. Protect what is valuable.
Protect your product
Apply for a Patent
Depending on the product a patent may be expensive and/or necessary. Remember that much of the copying is done from companies within your country. Protect your ideas!
Trademark Your Name
This will closely associate your name to the product. This may also help should any legal issues arise since the documentation needed when registering is written proof for the time your product intiated.
You will want proof of your research, building, prototyping and production of your idea. A paper trail will create this proof. Keep a file on every discussion and every letter or email sent and received.
Reveal Only the Necessities
Move forward fast but remember if you are trying to sell your product or idea to a client it is not necessary to reveal every detail when explaining your idea. If more information is needed by the client use a Non-Disclosure agreement. Remember to research you potential clients or investors in helping to determine their reputation.
This will help you to protect your idea before revealing it to a potential client or other associates. Not all will want this so consider printing a confidentiality statement on your business plan. This will help keep the balance of power.
Do Not Fear
Fear often holds us back from moving forward. It keeps us from doing the necessary jump ahead. Often we may be so close to the finish line and it is fear that holds so many back. In truth not many ideas are stolen. You do not want to hold back on the communication of your new product. Through sharing and discussing with other professionals you may be networked with a proper engineer (saving you money in the production), someone knowledgable in marketing (to get your product off of the shelf) and/or a company like Global Trade Specialists that has helped companies worldwide since 1991 with custom manufacturing in China.
Global Trade Specialists is committed to sourcing the best factory for your product and work only with suppliers that guarantee quality. We are your overseas purchasing team, which allows you to focus more of your time on doing the things that grow your business.
Contact Global Trade Specialists here for a free quote.