TDD FYI: Is Your Product Proprietary? - 06 / 23 / 15

How to become a successful Businessman

Anyone can have a great idea that nobody has ever thought of before. At least, they think nobody has thought of it until they do a bit more research to realize that might not be the case. If your product is proprietary, that means that you are the sole owner of the product/idea, or you are given credit for as much, which limits the uses that other people can claim without your approval.

In the past, claiming proprietary rights over a product or idea was complex. You’ve probably heard plenty of stories about the person who lost their idea or product to a much larger company, simply because they did not know how to protect themselves.

Now, thanks to the Internet and the general ease of finding information, it’s easier than ever to determine whether or not your product is already out there or not. However, you may want to think twice before you type your great idea into a search engine, as your idea may not be as safe as you think.

Keeping Your Ideas Safe

The idea of claiming proprietary rights over a product or a service is so that you can be recognized as the first person to think of it. Just imagine how different their stories would be if entrepreneurs like Albert Einstein, Thomas Edison, Bill Gates, or Mark Cuban didn’t have the rights that they need for the products that are synonymous with their success. If you want to ensure that you stay in control over your product or idea, then you need to ensure that you claim proprietary rights over it.

Running Your Products Togetherbiz

Some organizations have perfected what it takes to ensure that their products remain proprietary. Take a company like Adobe, for example. Adobe is known for their line of digital products that range from computer support to photo editing. However, the product that might be most useful to Adobe is Acrobat, which is the reader that is used for Portable Document Format – otherwise known as PDFs. Without Acrobat, users cannot view a variety of different files and documents, which makes Adobe an integral, if not irreplaceable, part of the equation.

For entrepreneurs who want to ensure the propriety of their product(s), making different elements along the way might be key. In the event that a competing company comes into the picture and claims improper ownership, you will have the other pieces of the puzzle that limit the usage of the final product. This is an ideal way to save yourself from concerns related to lost proprietary rights, as you will be able to hold multiple links along the line – much like Adobe does.

Making The Most Of What You Have

It’s a cold world that is full of corporate lawyers and overly greedy CEOs. And while there may be nothing that you can do to change that, you can be ready to take whatever comes your way. Many companies have survived the concerns of others taking proprietary rights by making the most of what they have. The popular computer operating system, Linux, for example, offers both free and paid versions. Offering a free version is a way to give users some features, by looking for a switch to another product.

Having a great idea might be what you need to change the outlook of your family fortune. However, keep in mind that your great idea might already be out there. If it’s not and you can claim proprietary over it, then it’s vital that you remain protected by legal concerns. Consider the tips here for determining whether or not your idea or product is proprietary, and then do whatever it takes to make the most of the idea you’ve had.

 

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