Page 80 - 597 Business Ideas You can Start from Home - doing what you LOVE! (Beginner Internet Marketing Series)

70 Your Idea, I nc.

Be sure that the person you're partnering with is really on the
same page as you are in regard to financial issues, marketing goals,
work style, and anything else of importance to your business and
product. Many friendships have ended after partnerships were
formed because these things weren't hashed out beforehand.

Give thoughtful consideration before becoming a partner, especially
with someone who may have different goals and ethics. Talk freely
and openly about how to handle hypothetical situations. Ask the tough
questions before becoming partners. Complete the Biz Brainstorm on
page 69 with your partner; then discuss your differences and how
you will work together on your ultimate goal of business success.

Nondisclosure Agreements

You might be thinking, "1 have a great idea, but 1 don't want to deal
with the hassle of bringing it to market. I'll just sell it to a big com­
pany." 1 have heard this many times over the years and it is usually
a real long shot . The biggest hurdle is simply getting a company
to listen to your idea in a confidential setting. Big companies have
their own large R&D (research and development) departments, so
they are usually not interested in hearing from the general public
about a product idea, espeCially if it is not patented.

That is when you would want to use a nondisclosure agreement.
Here's the lowdown on several different scenarios .

With Unpatented Ideas

If you do find that a company is willing to hear about your unpat­

ented idea, first have them sign a nondisclosure agreement (NDA).
An NDA is an agreement stating that you are showing another party
something confidential only for the purpose of a possible future
relationship and that they are not to make use of the information for
other purposes. NDAs are used in a wide variety of circumstances
where two unrelated parties are discussing private information in
order to see if they want to enter into a business relationship.