hr: Money

It’s not enough to have a great Idea. It’s not even enought to make the idea feasible. These days, everything lies in the marketing. You can have a great product flop, or a lousy product make it to the top simply on the strength of the marketing campaigns that were devised.

Image Credit: someventure.com

But marketing requires a lot of money, expertise and patience. Something that very few, if any, inventors have. That is why the makers of so many great ideas, when they have been proved, are willing to go to a large corporation that will look at the technology, and get into a partnership with the inventor, in return for a share of the profits.

But many people are suspicious of large companies, and non are more so than the inventors themselves, who may have put in years of work in getting the invention just right. They are afraid that if they show their technology to a large firm, they might just take it away from them, and market it on their own.

In cases like this, the standard procedure is to use a Non Disclosure Agreement or NDA. It essentially says that neither party will be able to use any information that is revealed during discussion for any commercial purpose unless the two are doing business together.

The best way to set up an NDA, is to hire a lawyer who has experience in such matters.