The stealing of one's business ideas by third parties

capri · Jul 3, 2023

Certain companies have the unacceptable habit of stealing the business ideas that are pitched to them by entrepreneurs. They thus gladly allow entrepreneurs to pitch their ideas, after which they do not perform any follow-up action. Instead, the unscrupulous companies rush to patent the business concept as their own.

Given this state of affairs, entrepreneurs who do not have the funds required to implement their business ideas find themselves in a sort of a dilemma.
While pitching an idea could enable them to obtain the necessary seed capital, such move could also lead them to lose ownership of the concept.

timewo · Jul 3, 2023

Stealing of business ideas is a very common practice in some countries, with the rich and powerful extremely ruthless in stealing business ideas. They are also closely monitoring the innovator who is denied privacy and makes great losses despite taking risk. The greed of those of rob business ideas without compensation kills innovation.

Heatman · Jul 3, 2023

This is the reason why you should be very careful where you expose your business ideas because there are people who are with the financial capacity that are always looking for people's business ideas to develop into their own and make big money from it.

Springtime · Jul 3, 2023

Yes, this happens in the business world. Stealing someone's idea is unethical. The entrepreneur should be careful when selecting potential investors and share his/her business idea. Only talk to someone you trust.

IB D · Jul 3, 2023

I can't unveil the entire concept of my business idea to you no matter how much you are promising to invest in my business. I can only give you a pseudo idea. It is my plan and my idea and I would know how to mask it.

eldavis · Jul 3, 2023

This is pretty common these days. Most business owners are not honest in the things they do, they do not want to take time out to be creative, they would rather steal other.

Semi · Jul 3, 2023

IB D said:
I can't unveil the entire concept of my business idea to you no matter how much you are promising to invest in my business. I can only give you a pseudo idea. It is my plan and my idea and I would know how to mask it.

That is how to do it. Just give them a well brushed up review without disclosing technicalities and details. If they want to steal that overview, they would still put in work to develop it.

astutimeliana723 · Jul 3, 2023

Heatman said:
This is the reason why you should be very careful where you expose your business ideas because there are people who are with the financial capacity that are always looking for people's business ideas to develop into their own and make big money from it.

That's right I totally agree with you. Therefore I always hide all my plans from my friends or colleagues, let them find out for themselves after I make it happen. I do this so that my business idea won't be stolen by them, even though it might be copied with a few modifications but that's normal in the business world.

cherry123 · Jul 3, 2023

This happen all the time , thos is why the entrepreneur should be careful when selecting potential investors. You need to know those you are sharing your business idea with now

eldavis · Jul 4, 2023

cherry123 said:
This happen all the time , thos is why the entrepreneur should be careful when selecting potential investors. You need to know those you are sharing your business idea with now

Very true, it is very common in the business world today, which is why most people tend to always do things by the law. They make sure there is always a lawyer to supervise, so if cases like this happens, the law is them to defend them.

cherry123 · Jul 4, 2023

it is always good to be careful with one business idea. this so that my business idea won't be stolen by others, people are very competitive in business so you have to be careful

Niyi Briggs · Jul 4, 2023

eldavis said:
Very true, it is very common in the business world today, which is why most people tend to always do things by the law. They make sure there is always a lawyer to supervise, so if cases like this happens, the law is them to defend them.

That is another angel. You would compel the potential investor to sign a non disclosure agreement which would prevent him from implementing or leaking the idea to other persons. That way, you can protect your innovation and idea.

cherry123 · Jul 4, 2023

Yes you can make everything about your business ideas legal. Get everyone involved to sign some documents to avoid divulging plans to another third party that can cause any kind of stealing to the business

capri · Jul 4, 2023

Springtime said:
Yes, this happens in the business world. Stealing someone's idea is unethical. The entrepreneur should be careful when selecting potential investors and share his/her business idea. Only talk to someone you trust.

With regard to being careful when choosing potential investors, an entrepreneur is usually between a rock and a hard place. This is because failure to share business ideas would deny one the opportunity of attracting investors. On the other hand, sharing such ideas could cause an entrepreneur to be scammed.

cherry123 · Jul 4, 2023

Yes, business failure can start this way. it isn't always right to avoid sharing business ideas with the right people. Because it is always an opportunity of attracting investors to partner with you

Etini Willie · Jul 4, 2023

That is where prototypes can help. With a prototype, you present a look alike of the main idea but not the main idea. By this, you give the potential investor reasonable details but you shield your business ideas.

eldavis · Jul 6, 2023

Niyi Briggs said:
That is another angel. You would compel the potential investor to sign a non disclosure agreement which would prevent him from implementing or leaking the idea to other persons. That way, you can protect your innovation and idea.

Yes, cause most of these people we talk to or even tell our ideas, they might not be the ones to steal it themselves, but in most cases they might tell someone else who would in turn steal it.

Niyi Briggs · Jul 6, 2023

eldavis said:
Yes, cause most of these people we talk to or even tell our ideas, they might not be the ones to steal it themselves, but in most cases they might tell someone else who would in turn steal it.

I get that point. But why would they have to disclose an idea that was pitched to them if they don't have intentions to jeopardize the idea? But a non disclosure agreement is in line.

cherry123 · Apr 20, 2024

This is why it is important to be careful of whom you are sharing your ideas with, thru can steal it.

Stardom22 · Nov 17, 2024

That is because we are not supposed to disclose our secrets to the wrong people.

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