There is no law that can automatically grant
protection to a business idea or a business model.
Why? The Laws of Intellectual Property do not
protect ideas, rather, they protect the individual expression of their ideas.
Given the right to freedom of expression no law has the power to restrict or
override such fundamental right. This means that someone can copy or make a
variation of your original business idea.
How can I protect my business idea?
One of the simplest ways of safeguarding your
business model is to keep it private. You can simply sign a Non-disclosure
Agreement ( NDA) with your business partner or investors to ensure that there
is no information leak. Alternatively, you may sign a non-compete agreement
with your co-founders or employees which will prevent them from operating in a
competing manner or develop competing products upon termination of their
employment with your business.
To make things clear. There are four main types
of Intellectual Property that can be legally protected.
Copyrights :
protect creative works where one can show sufficient individual input
Industrial Designs :
protects the ornamental or aesthetic aspect of a physical item
Trademarks :
protect commercial brand name logo, images, slogans that distinguish your
business from other businesses
Patents :
protect original inventions that are available for commercial use
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