Hey guys,
So on Kickstarter they have all of these cool "yet-to-be-built" products. Basically Kickstarter is just a marketplace for your ideas. If people like it, they'll pay you.
So let's say you have a cool new product idea and Kickstarter people fund you for $100,000 or so. What's to prevent another guy from calling a factory in China, show them a picture of the product, and ordering say 1000 units and immediately put it on Amazon, eBay, and his own website?
So what's preventing other people from just stealing your ideas and run with it? I'm guessing many of the products don't have patents? I'm reading that it costs $530+$300 to just file for a patent + early disclosure and up to $10,000 for a complete patent. Small start-ups aren't going to have this kind of money and legal expertise.
The other thing I've noticed is a lot of retailers have their own "generic" version of brand name goods. So it's like the same thing, just a cheaper version of whatever's on sale. Like Tide detergent and generic detergent.
So overall, how can you protect your product ideas while starting out? What's to prevent me from going to China and just copying whatever invention that gets funding on Kickstarter?
So on Kickstarter they have all of these cool "yet-to-be-built" products. Basically Kickstarter is just a marketplace for your ideas. If people like it, they'll pay you.
So let's say you have a cool new product idea and Kickstarter people fund you for $100,000 or so. What's to prevent another guy from calling a factory in China, show them a picture of the product, and ordering say 1000 units and immediately put it on Amazon, eBay, and his own website?
So what's preventing other people from just stealing your ideas and run with it? I'm guessing many of the products don't have patents? I'm reading that it costs $530+$300 to just file for a patent + early disclosure and up to $10,000 for a complete patent. Small start-ups aren't going to have this kind of money and legal expertise.
The other thing I've noticed is a lot of retailers have their own "generic" version of brand name goods. So it's like the same thing, just a cheaper version of whatever's on sale. Like Tide detergent and generic detergent.
So overall, how can you protect your product ideas while starting out? What's to prevent me from going to China and just copying whatever invention that gets funding on Kickstarter?
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
