Stop Worrying About Your Ideas Being Stolen

Worried about someone stealing your ideas? Stop worrying.

Twenty-two inventors had patents on various aspects of the incandescent light bulb until Edison figured out how to market it. Twenty-two inventors were ahead of Edison, but he won in the end. Why? Because he took it to market and beat them in the marketplace.

That’s where the battle really is for many reasons. Most patents can be legally beaten by making small adjustments to the design or application. Others are beaten by manufacturing offshore where our laws are not respected, but in the end, the real equalizer is the marketplace. He who effectively markets, wins. Frankly, sometimes it is the first one in, other times the pioneer gets killed and the second one in or the third one in wins, as the market has been established and someone finally figures out how to deliver and thus owns the market because of production and distribution capability.

I have frequently advised inventors to focus more on the distribution and marketing aspects. While you should definitely apply for the patent so you have your date in first, the real battle is in the market and you need to gain your share of the market. If done well, you can block out anyone else, even someone with an earlier position with the patent office. Even legitimate patents are frequently challenged and overturned, or competitors are allowed to enter the race because of slight differences in their designs. Nothing is really sacred about a patent, but what is controlling is your market share. If large enough, you win. If small, you may be taken over.

Focus your energies on delivering product and building wealth. Fight your battle in the marketplace, not your lawyer’s office. In short, do not count on patents to prevent competition. Do not rely on patents to support distribution. The important victory is in the marketplace, winning share of market by creating brand awareness and a following.