How can I protect a product idea before seeking help with research and development?

Question

It’s quite natural that inventors have doubt that if I give idea to someone what will happen to my idea?

Answer 1

The vision and development of the invention is accomplished with the help of others. Sooner or later, the inventors need to collaborate with a manufacturer or distributor.

Creative ways to actively protect your idea before applying for a research and development.

Few use these legal logic's to protect your product idea

i) Non-disclosure agreement (NDA):

An NDA can be a mutual agreement between two parties not to share information with third parties or can be one-way . This agreement is preferred as it doesn't have an expiration date. It is a legal agreement between you and another party not to disclose idea you have shared for a specific purpose. It can be done in two methods as follow: One-way It is one-way NDA i.e. when only one business is sharing information and the other agrees to keep it confidential. Two-way It is two-way NDA (also called a mutual NDA) i.e. when both businesses are sharing confidential information with each other and want to be sure that neither will disclose their trade secrets.

ii) Non-compete agreement:

A non-compete agreement is a contract between two parties in which one agrees not to enter into competition with another during or after development of product. This contract prevents the entity / individual who belongs to the product development, from starting a business which would compete or threaten within an established radius.