Can they steal my idea?
Working with a freelancer or service providing company or any other external party can make you worry. What if they steal my idea? What if they copy what I do? Ideally you would have IP Rights registered which provide the maximum protection.
We briefly discuss the difference between these IP Rights:
- Trade Mark
- Registered Design
Registering such IP Rights could be costly and time consuming and might not be a viable option at the time, especially for the start-up Entrepreneur.
So what do I do?
As a minimum, have your freelancer or service providing company representative sign a Non Disclosure Agreement (NDA). An NDA is a legally binding document between the two signing parties. By signing the NDA, the external party acknowledges that you brought the idea/method/system etc. to the table and that all information provided shall be treated as confidential and secret.
You can download a free Basic NDA!
If you require assistance with a specialised NDA, feel free to get in touch with us.
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