How do I protect my business idea from being stolen?

[MitchT]

I've had an idea which could radically change the way in which the company I work for sells its products. It could also be extended to allow for massive expansion of the company into uncharted areas of its existing field. It's a fantastic idea with extraordinary potential. Noone is doing it yet but it could become universally popular in both the mainstream and specialist areas - I can't begin to describe how huge it could be!

In order to progress the concept I have to explain it to colleagues who have the tools to turn it into reality. How do I prevent them from simply assuming ownership of my idea once they know what it is? On my own I wouldn't have the resources, either financially or knowledge-wise, to take it anywhere, so this is an amazing opportunity. I accept that the input of others will have a value, but I want to protect my interests too.

I was advised by a legal professional who specialises in music, that music which I have written should be recorded and posted to myself by spcecial delivery and kept sealed-up when I get it back - That way I have it in a sealed and dated package to prove that I was in possession of it before anyone else. Would it be enough to write down an explicit description of my business idea and post it to myself in the same way, before telling anyone, or do I have to take it to a solicitor... and in fact, does there have to be something more tangible in existance before it can be copyrighted/patented/etc.

[MitchT]

Route324 said:

Mitch, I'm unclear if you are looking to protect this idea in order to create a business for yourself or you're looking to exploit the potential as an employee somewhere, but want some recognition/reward for it?

The company I work for encourages enterprise and has a yearly opportunity for individuals to put an idea forward and invite relevant colleagues, who's knowledge is required, to assist in a project to drive the idea to resolution. At the end of the project the team gives a presentaton to the board.

What I want to ensure is that if this does take off and blossom into a highly profitable venture, that I don't go back to being an £18.5k a year wage-slave while the chairman gets rapidly richer off the back of something that I've thought of and driven to a point of being proven to be viable. I want some ownership so the powers-that-be can't simply take it off me and get even richer while I continue to spend my life wondering whether to eat or turn the central heating on this week.

Also, I'm so convinced by the potential that this has, that if I reach the end of the project and the company doesn't embrace it, but work carried out by myself and my team has proven it to be viable, I want it to be my property so I can drive it forward outside the boundary of my existing employer's jurisdiction.

[MitchT]

ginettag27 said:

Check your Ts and Cs...

You mean my contract and my employment handbook? Nothing in there to suggest that I can't 'copyright' this idea as my own. More pressingly I have to ascertain exactly how to copyright it because I don't have long before I have to present the idea to be given the go-ahead as one of the projects.

[MitchT]

JustinP1 - good points - I take them all on board.

Your input has made me consider my options further and given me a startling realisation! The idea is applicable both to my employer and other companies in the same overall field, but offering very different products, so maybe I should 'give' it away to my employer in the context of their product, and if it's a hit, start my own company offering it in the context of other companies' products. Everyone wins!

[MitchT]

I'm not sure they could lay claim to the idea as it is already in use in an entirely different context - I've just seen its ability to be used in the context of my employer's business and others like it.