How to Protect a Business Idea

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The protection of a business idea starts with keeping quiet and sharing the idea with a select few people. Get a business license and set up a company when protecting a business idea with advice from a college business instructor in this free video on business planning.

Part of the Video Series: How to Start a Business
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Video Transcript

Hi my name is John Niemira and I'm here at the Salt Lake Campus of Steven's Henager College. I'm an instructor here and I wanted to talk to you very briefly today about how to protect a great idea that you have for a business. Suppose you come up with that idea and you are just not ready to start it. How do you protect it? Well let's go through the simple process. First of all you have got to keep it very quiet. Share the idea only with very selected people. Obtain your business license. First thing go down to the county, get your application, get your business license. Get yourself an attorney, a business attorney and set up your company in whichever format you are going to do that, whether it is sole proprietor or partnership or corporation or an llc company. The next step would be just simply to keep it quiet, keep it simple, get all of your ducks in a row as they say before you let this idea out. Talk with your attorney on what they feel would be the best way to protect this idea as you go through the process of starting up your company. For any more information on this topic or any other business topic, you can contact me directly at my e-mail jniemira@gmail.com.

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