I've got an idea... Part Two!!!

[compuclean]

Following on from my earlier thread (http://www.ukbusinessforums.co.uk/forums/showthread.php?t=19134)

Could I sell my idea?

For starters, I KNOW it is a good idea - and that it will work.

The reason I want to sell the idea is that I don't have the time to implement it.

Now, I know that most of you will want more details before you can answer whether or not I can sell it, but is it feasible - can an idea be sold??? And if so, for how much? Assuming that my idea will make approx £20,000 in a month???

 

[mattk]

Go on Dragon's Den. Get nationwide publicity and then sell to the highest bidder!

 

[cjd]

It's more usual to copyright or patent, then to sell or licence. If the 'idea' can't be protected in this way then it's only value is first mover advantage; which by-and-large is vastly over-rated.

You could try issuing interested parties with NDAs but I wouldn't give you a penny for whatever it is :biggrin:

 

[cqueen]

Yeah unfortunatly 'ideas' are pretty worthless until you make or design the real thing.

 

[webit]

Yeah unfortunatly 'ideas' are pretty worthless until you make or design the real thing.

Totally agree - ideas are everywhere - what makes the difference is developing it to product.

 

[Faith28]

My understanding is that you CANNOT sell an idea.

The idea itself does NOT generate £20k per month it's the effort put into the work that MAY generate that amount. But like anything there are no guarantees.

I've got 3 ideas that I think will generate a substantial amount of money. And I will not give them to anyone but I can appreciate that someone else may think of the idea themselves. So although I do not have the time to do them all I've put in place a plan to accomplish them one at a time (they are linked within the same industry and follow naturally from the other).

 

[Astaroth]

As others have said, for one you cannot say how much the "idea" would generate as it depends on many criteria including the amount of initial investment put into it. A project for my employers earning £0.24m a year would be unlikely to even be discussed but then would your idea only be limited to that profit line if you have a company that could afford to potential invest millions into it?

If the idea is unique enough and is for a product or such then there is the possibility of patenting it but this is obviously dependant on what the item is and how truely unique it is.

Generally speaking it would be better to either found the company offering the service/ make the product and then sell it as a going concern rather than as a piece of paper which ultimately has no proof that it will be any form of success.

 

[FreelanceSEO]

Why sell it? Why not partner up with a few people that could make it happen?

 

[Niteflyer]

look, it's really as simple as this, of course you can sell the idea, if someone WILL BUY IT!

Now, that's the hard part, BECAUSE NO ONE IN THEIR RIGHT MIND WILL BUY AN IDEA

I definitely wouldn't.

If this idea is as great as you say it is, you are going to have to invest a little of time and/or money to get in off the ground. Then you will be able to sell the company if you want to.

Also you will get a hell of a lot more for a compnay than you will for an idea.

Matt

 

[Steve Roberts]

Firstly you can't patent an idea! Once it's in the public domain it's the property of whoever sees it.

Secondly, take this the right way but there's nothing clever about having good ideas. I have a saying "the road of good ideas is littered with corpses".

Thirdly, the real trick is turning a good idea into a protected cash generator. I would suggest writing up a conservative and achievable business plan which doesn't give the game away, as far as the idea goes. Talk to investors about the potential ROI and when they are sufficiently interested get them to sign an NDA and reveal your idea.

 

[compuclean]

Okay people, thanks for your comments... looks like I need an NDA...

 

[cjd]

Okay people, thanks for your comments... looks like I need an NDA...

Don't waste you're time. Develop the idea yourself or forget it - everybody on this forum has 5 ideas a day - they're less than worthless unless you invest in them personally.

 

[sublimedesigns]

I'll sign a contract not to use your idea without permission
Tell me the idea and I'll give you
£1000 for every £5000 I make off the idea if I like it.
;-)

 

[webit]

I'll sign a contract not to use your idea without permission
Tell me the idea and I'll give you
£1000 for every £5000 I make off the idea if I like it.
;-)

Is that with you bankrolling it and developing the project 100%?

 

[theMBA]

There's an anecdotal story of a man who walked off the street into the offices of a large company who made match boxes. He said that for $1m he would tell them his idea, that would make them a lot more money than that. At first, they turned him away, and got some of their best people to brainstorm ideas. Eventually, though, their curiosity got the better of them and they invited him back. They said that, if his idea was worth more than $1m, they would pay him the $1m. He accepted, and said that his idea was to remove the strike-strip from one side of their match boxes (their design included strips on two sides at the time). He got his $1m.

I don't know if it's true, but I like the story - it keeps the dream alive.

In practical terms, though, sharing ideas is risky, as the person generating the idea is not necessarily the best-placed to make it into a practical product or service. This puts them in a very weak negotiating position in relation to the people who are.

The risks can be reduced by using IPR (patents, copyrights etc)

The risk is never totally eliminated. In a competitive environment, competitors will always be trying to copy or reverse-engineer good product or service offerings, even where IPR protection exists. Does a small business have the resources to take on a major company in court, even if they have strong IPR protection?

Ultimately, the best way of exploiting an idea in the SME sector is either to commercialise it yourself, or enter relationships with people or companies who you trust will "see you right".

 

[sublimedesigns]

Depends on the details. what is the start up cost?

 

[SBToolkit]

If you are going to make £20k a month off this idea and time is your only constraint - I would say get some more time asap. No one in their right mind will buy a business (for 'proper' cash) off the back of an idea.

 

[Mike tells it like it is]

It's more usual to copyright or patent, then to sell or licence. If the 'idea' can't be protected in this way then it's only value is first mover advantage; which by-and-large is vastly over-rated.

You could try issuing interested parties with NDAs but I wouldn't give you a penny for whatever it is :biggrin:

Licensing is good as you make money for doing nowt.

 

[cjd]

This thread has been zombied from 2006.

Congrats, probably not a record but must be close.

 

[ThePublisher]

What are you doing at the moment that is presumably earning you more than £20K a month?

If you're not earning £20K a month, your present employment is losing you the difference between what you earn and the £20K so why aren't you pursuing your idea?

Either that or the idea isn't really worth £20K a month but you'd like to find somebody to convince that it is............