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  1. #1
    Join Date
    Jul 2015
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    2

    Default How to Protect an Idea Before Pitching it to a Company

    I have an idea to change a company's policy. If they change this policy, it will save them a lot of money. I don't work for this company. The company is in The United States and operates in multiple states. It is privately owned. What sort of agreement should I get them to sign to make sure they compensate me when I tell them about the idea?

    Thanks

  2. #2
    Join Date
    Dec 2009
    Location
    Lake Chapala
    Posts
    3,019

    Default Re: Protecting My Idea That Will Save a Company Money

    This is not a DIY project. You need a competent business law attorney in the US who can draft you an agreement that is enforceable in the US. Once the interested parties (i.e., you and the company) have signed the agreement, then it will be in force.

  3. #3
    Join Date
    Jul 2015
    Posts
    2

    Default Re: Protecting My Idea That Will Save a Company Money

    I understand that I need a competent business attorney to write this for me.

    I'd like to be familiar with the topic so I know that who I have do it for me knows what they are talking about.

    Could you please give me a little background on what sort of agreement this is as in a general term, what it should include to protect me and so on.

    I'd really appreciate it. Thanks.

  4. #4
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Protecting My Idea That Will Save a Company Money

    Realistically speaking, a company is going to be highly resistant of hearing any sort of pitch from an outsider who wants them to sign some sort of contract that would prohibit their use of an idea. First, most such pitches are going to be a complete waste of time. Second, they could hamstring themselves if they have already developed the idea or a variant of the idea in-house.

    Should we assume that this is something that has no chance of being granted patent protection?

  5. #5

    Default Re: Protecting My Idea That Will Save a Company Money

    Your first step should be to contact the company and see if they would consider talking to you.
    If they do, explain the concept of your idea without disclosing the information required to make it work.
    If at that point the company is still interested in your idea, lawyer up. No need to go through the whole legal hassle if the company won't hear you out.
    I also think you might be using the wrong word with "policy". I'd use "systematic process" or something similar.

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