{"id":33888,"date":"2023-10-20T14:32:06","date_gmt":"2023-10-20T14:32:06","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/protecting-your-ip-in-a-co-working-space-page-2-of-2-startupsmart\/"},"modified":"2023-10-20T14:32:06","modified_gmt":"2023-10-20T14:32:06","slug":"protecting-your-ip-in-a-co-working-space-page-2-of-2-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/protecting-your-ip-in-a-co-working-space-page-2-of-2-startupsmart\/","title":{"rendered":"Protecting your IP in a co-working space &#8211; Page 2 of 2 &#8211; StartupSmart"},"content":{"rendered":"<p>\u201cWith the latest applications we\u2019ve had to our accelerators, there are clusters of teams all working on the same problem. Their ideas are scarily similar, but unintentionally so.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>\u201cIf someone has got the same idea as you, who cares? Just get out there and execute it better.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>So what should you do if a nearby start-up is working on the same kind of business that you are? Heras advises not to head straight to the lawyers.<\/p>\n<p>\u00a0<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-18220\" style=\"vertical-align: middle;\" alt=\"in-article-madonal-250.jpg\" src=\"\/wp-content\/uploads\/2012\/02\/in-article-madonal-250.jpg.jpg\" height=\"188\" width=\"250\" srcset=\"https:\/\/startupsmart-uploads.s3.amazonaws.com\/uploads\/2012\/02\/in-article-madonal-250.jpg-215x162.jpg 215w, https:\/\/startupsmart-uploads.s3.amazonaws.com\/uploads\/2012\/02\/in-article-madonal-250.jpg.jpg 250w\" sizes=\"(max-width: 250px) 100vw, 250px\" \/><\/p>\n<p>\u00a0<\/p>\n<p>\u201cWhen Shoes of Prey said they had their design copied, they put it out there and blogged about it,\u201d he says.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cThey vented about it and let everyone know, but ultimately, they just have to go out there and be better than them.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>\u201cThere are people in Germany and China staring at business concepts from around the world all day. What can you realistically do about it?\u201d<\/p>\n<p>\u00a0<\/p>\n<p>\u201cYou\u2019ve got to assume that other people have the same ideas as you. The benefits of putting your idea out there far outweighs the dangers.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>\u201cIf you don\u2019t say what you\u2019re doing, you\u2019re missing out on networking and help that others can give you. If someone does the same thing as you, just chat to them about it. In most instances, they\u2019ll change it.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>According to Eckersley-Maslin, start-ups need to cover themselves, but demanding the signing of non-disclosure agreements at every turn can be self-defeating.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cWe are pitched 10 or 15 ideas a week and it would be hard to remember what we were allowed to mention if we signed NDAs all of the time,\u201d he says.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cAlso, there may be another business that does what you want to do. If you don\u2019t get feedback on your idea, you\u2019re limited to just one person\u2019s research into the market.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>\u201cLastly, if you tell me your idea and I meet someone who could help your business, I can tell them about it. Not every detail, of course, but enough to be empowered to be an ambassador for your idea.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>Eckersley-Maslin advises that budding entrepreneurs come up with a standard elevator pitch to broadcast to the world, but keep certain elements under wraps.<\/p>\n<p>\u00a0<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-18221\" style=\"vertical-align: middle;\" alt=\"in-article-adidos-250.jpg\" src=\"\/wp-content\/uploads\/2012\/02\/in-article-adidos-250.jpg.jpg\" height=\"187\" width=\"250\" srcset=\"https:\/\/startupsmart-uploads.s3.amazonaws.com\/uploads\/2012\/02\/in-article-adidos-250.jpg-215x161.jpg 215w, https:\/\/startupsmart-uploads.s3.amazonaws.com\/uploads\/2012\/02\/in-article-adidos-250.jpg.jpg 250w\" sizes=\"(max-width: 250px) 100vw, 250px\" \/><\/p>\n<p>\u00a0<\/p>\n<p>\u201cWork out what you want to tell the world and keep the \u2018secret sauce\u2019 to yourself,\u201d he says. \u201cTell people what your general concept is, but certain aspects of your business model and how you\u2019re going about it should be secret.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>\u201cFor example, you can tell people that you have a business that helps people share car parking in central Sydney, which is a big problem for commuters. But if you have done a deal with a major real estate player, keep that to yourself. Tell people the concept, but not all of the execution.\u201d<\/p>\n<p>\u00a0<\/p>\n<p><strong>Top five tips to avoid over-share:<\/strong><\/p>\n<ul>\n<li>Don\u2019t have delusions of grandeur \u2013 as much as you think you have a world-changing idea, the chances are that someone, somewhere, has had the same brainwave. Accept this fact.<\/li>\n<li>Realise that it\u2019s about the execution \u2013 ideas are great, but it\u2019s how you execute them that is what will make or break your business. Focus on how you apply an idea rather than the idea itself.<\/li>\n<li>Work on your elevator pitch \u2013 if someone wants to know about your business, you need a standard, simple 30-second explanation to give them. If you haven\u2019t got one, come up with one.<\/li>\n<li>Keep a little in reserve \u2013 sharing is great. You get to bounce ideas off others, avoid becoming stale and even forge partnerships. But you don\u2019t need to tell everyone about every detail, especially something that provides you with a competitive edge.<\/li>\n<li>Don\u2019t indulge in careless talk \u2013 it sounds obvious, but if you\u2019re worried about your IP in a shared work space, then keep your private conversations to yourself. Blabbing all your secrets probably won\u2019t do you any harm, but do you want to take that chance?<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u201cWith the latest applications we\u2019ve had to our accelerators, there are clusters of teams all working on the same problem.<\/p>\n","protected":false},"author":2,"featured_media":62431,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/33888"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=33888"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/33888\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/62431"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=33888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=33888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=33888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}