ChatterBank1 min ago
Can I copyright my idea?
I have an idea that I am working up, which could generate a lot of money.
It's based on the industry I have worked in for over 20 years for various companies. I have been reseraching it for about 5 years in my own time, and recent changes have made it highly relevant and likely to succeed.
I am lucky in that for the last 9 years I have worked for a really progressive company and have risen to quite a high rank. I am about to present the idea to the board and have talked through with a few colleagues and they all agree it's a really good concept and if anyone can make it happen then it's me.
I'm happy to take things forward should the board approve, with the company I am with, but should I (or even can I) copyright the idea personally? It's largely conceptual but the ideas are all my own from the actual base right through to what is needed, where we would source it and how we would get it delivered to market.
At a recent conference during the lunch break, I found myself sitting next to a Snr VP of a large company (£18 billion annual turnover) who could be approached to be a part of it (it would involve three different markets), and he has asked me to keep in touch with him about it's progression.
Again, happy to go through my company to luanch. i just wan to ensure that I get to be involved in launcing it and if it does make the revenue expected that I get recognised financially.
It's based on the industry I have worked in for over 20 years for various companies. I have been reseraching it for about 5 years in my own time, and recent changes have made it highly relevant and likely to succeed.
I am lucky in that for the last 9 years I have worked for a really progressive company and have risen to quite a high rank. I am about to present the idea to the board and have talked through with a few colleagues and they all agree it's a really good concept and if anyone can make it happen then it's me.
I'm happy to take things forward should the board approve, with the company I am with, but should I (or even can I) copyright the idea personally? It's largely conceptual but the ideas are all my own from the actual base right through to what is needed, where we would source it and how we would get it delivered to market.
At a recent conference during the lunch break, I found myself sitting next to a Snr VP of a large company (£18 billion annual turnover) who could be approached to be a part of it (it would involve three different markets), and he has asked me to keep in touch with him about it's progression.
Again, happy to go through my company to luanch. i just wan to ensure that I get to be involved in launcing it and if it does make the revenue expected that I get recognised financially.
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Yes, it would have been wiser to have taken independent advice before approaching your company to explain the idea because you can never be sure which way they may jump. If there is money to be made from it, you seem to be taking it entirely on trust that your company will share the development and/or the potential profits with you.
It is highly possible that you have developed this idea as part of your job and claim the IP rights - and I, too, have seen contracts of employment where there is a clause that states that ideas arising out of the course of the employee's work are the IP of the employer.
You need an agreement drawn up between you and your employer PDQ over this.
And I really don't know why it was a good idea to speak to another company over it - especially if it isn't patented yet.
It is highly possible that you have developed this idea as part of your job and claim the IP rights - and I, too, have seen contracts of employment where there is a clause that states that ideas arising out of the course of the employee's work are the IP of the employer.
You need an agreement drawn up between you and your employer PDQ over this.
And I really don't know why it was a good idea to speak to another company over it - especially if it isn't patented yet.
^^^ Thanks for the input. The company have always served me well and been honest with me, and I am confident enough of my idea to be upfornt about writing into any agreement (should it progress) that I get a share of any profits.
It's actually aimed at a foreign market where we don't currently have any representation, so it would be taking the company in a completely new direction.
The other company I spoke to was just chatting over lunch and I only toplined the idea with no specifics so I'm not concerned about them knicking the idea (I didn't outline how it would work-I did outline that if it worked then it would create opportunities for them to also expand their current product portfolio, if they got involved). It was more about me identifying possible future partners for it.
I do think that once I have presented to the board then I need to get NDA (non disclosure agreements) built into the process as well as my rights both professional and financial.
As i mentioned all the research has been done during my own time as has working up the idea etc, and I have researched the market and there is nothing else like this out there right now. It ticks boxes for all involved as well as the end user and possible even some foreign governing bodies.
It's actually aimed at a foreign market where we don't currently have any representation, so it would be taking the company in a completely new direction.
The other company I spoke to was just chatting over lunch and I only toplined the idea with no specifics so I'm not concerned about them knicking the idea (I didn't outline how it would work-I did outline that if it worked then it would create opportunities for them to also expand their current product portfolio, if they got involved). It was more about me identifying possible future partners for it.
I do think that once I have presented to the board then I need to get NDA (non disclosure agreements) built into the process as well as my rights both professional and financial.
As i mentioned all the research has been done during my own time as has working up the idea etc, and I have researched the market and there is nothing else like this out there right now. It ticks boxes for all involved as well as the end user and possible even some foreign governing bodies.
As Buildersmate says, a design and a patent are two different things. If you are unclear about what is what, then consider a new shampoo. The formula for the shampoo would be patented; the name of the shampoo might be a trade mark; and the shape of the bottle is a design. All are different rights but rights to a patent have to be registered while the other two can be automatic. A book or piece of music is subject to the laws of copyright, also an automatic right.
Your contract of employment may give details of ownership of IP rights, but if not the usual situation is that if the idea relates to your area of work, whether you developed your idea in your own time or your employer's, then they have claim to the rights. If the idea does not directly relate to your work then you have a stronger claim to rights.
HOWEVER - if you want to make any claim to the rights for yourself, then get the non-disclosure agreement signed BEFORE you give any details. That way you are on safer ground as, if you tell them first then ask them to sign the agreement, they can say no if they think they can cash in on your idea.
Your contract of employment may give details of ownership of IP rights, but if not the usual situation is that if the idea relates to your area of work, whether you developed your idea in your own time or your employer's, then they have claim to the rights. If the idea does not directly relate to your work then you have a stronger claim to rights.
HOWEVER - if you want to make any claim to the rights for yourself, then get the non-disclosure agreement signed BEFORE you give any details. That way you are on safer ground as, if you tell them first then ask them to sign the agreement, they can say no if they think they can cash in on your idea.
^^^^ Thanks that's really useful, and exactly what I am about to do lol! I presented the idea to my CEO and our finance director last week and they think it has potential. They are going to put me in front of our USA Alliance partner at our conference later this year, but he will have to sign an NDC before we talk.
They have agreed it will be copyrighted in my name and if it moves forward then I will be the one overseeing it and be rewarded accordingly. It might mean me moving to the US for a period to do so, but that is some way off, so I'll worry about that when it looks like it's happening.
They have agreed it will be copyrighted in my name and if it moves forward then I will be the one overseeing it and be rewarded accordingly. It might mean me moving to the US for a period to do so, but that is some way off, so I'll worry about that when it looks like it's happening.
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