Protecting Your Product Ideas

Posted on September 25, 2007

Ladies Who Launch is one of my favorite business programs — it’s a grassroots organization that offers "incubators" for women who have a great business idea and need support. Frankly, wish I’d thought of it!

However, on their blog this week there’s a great entry on Patents and defending your brilliant ideas.
Kim Lavine, author of Mommy Millionaire, writes:

    I remember when I was just starting out, perhaps the scariest moments for me involved putting my ideas out there in the marketplace, worrying about somebody knocking them off. Since then I’ve learned that the idea is only 5% of a product’s success—and this may include the patent! The other 95% is sales and marketing. You can find a whole section in my book MOMMY MILLIONAIRE on patents, and I would suggest everyone read it to find out the absolute basics for going forward, including when to pay and attorney, and when not to. ….. read more

I never saw a 5%/95% ratio before  and I’m glad someone else said it other than me!

Sales trumps design – EVERY TIME!

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