Ideas they say change the world and almost everyone gets an idea from time to time. It’s one of the true hallmarks of a true leader and entrepreneur. It’s therefore very disturbing that many people deprive themselves of the joy of seeing tiny thought seeds grow into a business, product or achievement but would rather grab some other peoples ideas and deploy them.
This reality scares entrepreneurs into holding on to their ideas or the core of it. Which results in lack-lusture and verbose presentations, little or no trust for staff and a reluctance to reach out to potential investors or companies who could actually turn their business stories around and more. Although it’s a good thing to be careful, the anxiety pangs which gnaw at us (entrepreneurs) regarding this situation barely even surface most times.
Instead of entertaining fear, learn how to use this to your benefit. It’s common practice now to see companies who encourage innovation and submission of awesome ideas from external developers, inventors and providers because it helps them lower research, development and staffing costs (all activities that ordinarily woud require more funds on a corporation-level). Most right-thinking companies would not even consider stealing ideas because of the associated demerits like litigation, negative PR and decline in future quality staffing.
It’s the real world and I won’t pretend that there are no companies out there who though they wouldn’t outrightly steal your idea might try to improve on it, change a name or two before giving you the boot. With this in view you could file for intellectual property rights that prevent this
It’s time to protect yourself and ideas with some of these suggestions which have worked both on personal and corporate levels
Product/Idea Creation Process Knowledge- Your idea and product most definitely has a method to it’s production which you could learn by going online or going to production plants. This would tell you how and where to source the individual components that form your product. This would enable you know the details you can freely provide when presenting to future investors, companies or discussions to have with partners who have been properly and legally engaged.
Conduct a Conclusive Product Research- Dig into the library archives, go online, subscribe to journals or simply outsource this activity to a research firm. Learn how other similar products before yours worked. With this new-found knowledge-bank, you should discover the uniqueness of your product or idea and know the level of information to either include or give away during pitches or presentations without negatively affecting your chances.
Learn and Learn- Book for industry tradeshows, fairs or workshops to stay updated on what is trending. Afterall, this should help you notice when some familiar-sounding product drips off the lips of some company who you’ve presented your products to in the recent past.
Choose Wisely- Do a background check on company antecedents before you jump into a business relationship with them. Ask the business friend that has been trusted to tell all entrepreneurs the whole truth “Google”. It will boot up information on litigations, previous partnerships and more. This will inform your next steps.
Be Reasonable and Realistic- We often see creators who over-value their products or ideas when in talks with potential investors. The fact that they are even talking with you means that they see value and would be willing to exchange money for what you have. An over-ambitious demand on the other hand would achieve the reverse because a company that has been given an idea which they are passionate about but can’t have most naturally would try to see if they could add that value themselves or get some other people who could do it for less (with some changes of course). Though this isn’t necessarily the honest option, it might still be good to remember that companies are afterall run by real live “humans.
Stay Ahead of the Curve- In applying for provisional patents, try to take your own idea from within by imagining how an external company trying to plagiarise your work would approach it.
Go out there and open up the possibilities of letting your idea or product add value to us all without the attached fear of having it stolen. Fear and entrepreneurship are linked in a weird kind of way. So let that fear fuel your decisions to get the right information and then apply it correctly.
Have a great and productive day
Written by Temple Obike .
Linkedin: Digital Content Africa
Nissan to recall over 40,000 cars due to malfunction of brake fluid leak
Japanese automaker gaint Nissan says, it’s recalling nearly 400,000 vehicles in the U.S. because of a braking system defect that could cause them to catch fire.
Users and Owners are advised to park affected vehicles outside and away from structures if the anti-lock brake system warning light comes on for more than 10 seconds.
The Japanese automaker says a pump seal may become worn down and cause brake fluid to leak. “If the warning is ignored … the brake fluid leak may potentially create an electrical short in the actuator circuit, which in rare instances, may lead to a fire,” the company says in documents sent to the National Highway Traffic Safety Administration.
The recall affects four different models in the U.S.: the Nissan Murano SUV, model years 2015 to 2018; Maxima sedans, model years 2016 to 2018; and the Infiniti QX60 and Nissan Pathfinder SUVs, model years 2017 to 2019.
Nissan says in a statement emailed to NPR that it is working on a fix and that owners of affected vehicles will be notified beginning in early December 2019. “Once the remedy is available, owners will receive a final notification letter asking them to bring their vehicle to an authorized Nissan dealer or INFINITI retailer to have the remedy work completed at no cost for parts or labor,” the company says.
This isn’t the first time Nissan has had problems with brake fluid leaks. Last year, for example, Nissan recalled more than 215,000 vehicles. The automaker says vehicles in the 2018 recall that haven’t been repaired are included in the current recall.
World food prices hike for first time in five months: U.N. FAO
World food prices rose for the first time in five months in October, boosted by jumps in quotations for sugar and cereals, the United Nations food agency said on Thursday.
The Food and Agriculture Organization (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 172.7 points in October, up 1.7% on the previous month and 6.0% year-on-year.
FAO also predicted that cereal production would be 2.704 billion tonnes in 2019, slightly lower than its last forecast.
The FAO sugar price index jumped 5.8% from September levels, largely because of expectations of lower supplies in the year ahead following forecasts of large reductions in sugar output in India and Thailand.
The cereal price index rose 4.2%, with wheat and maize export prices climbing on the back of reduced crop prospects in several major producing countries and “robust trade activity”. By contrast, rice prices fell, hit by subdued demand and expectations of an abundant basmati harvest.
The vegetable oil price index increased 0.5% to reach its highest level in more than a year, while the meat price index rose 0.9%, driven by higher import demand especially from China.
By contrast, the dairy price index dropped 0.7% in October, as lower quotations for cheese offset increases in those for skimmed and whole milk powders, FAO said.
FAO lowered its forecast for global cereal production in 2019 by some 2 million tonnes, pegging world cereal output at 2.704 billion tonnes, but still up 1.8% from 2018 levels.
The U.N. agency said worldwide coarse grain production in 2019 was seen at 1.425 billion tonnes, down 1.3 million on the previous forecast.
Wheat output was seen at 765 million tonnes, down nearly 1 million tonnes on the last outlook, but still on course to set a new record and up 4.5% on 2018 levels.
The forecast for global rice production was put at 513.4 million tonnes, little changed on the previous forecast and slightly below 2018 levels.
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