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Writer's pictureA Practical Entrepreneur

I HAVE A VALUABLE IDEA

– I am often asked about patenting an idea that someone has and believes that it is the next greatest thing to come along. Well, it may be a great idea, but you cannot patent an idea. The great idea must be translated into a producible form weather that is a prototype functioning product or a fully designed and ready to manufacture product. Ideas in themselves have little or no economic value. Just because you thought of something does not give you an exclusive right to ownership of that idea. Look for example at the inventor(s) of the telephone. While Alexander Graham Bell is generally credited as the inventor, there were others who also had the idea but were too late with a patentable device.

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