Personal experience and expertise -->
- Jamie Oliver turned his education into his Business
- Simon Cowell may have little fashion sense but he certainly knows the music business - One Direction exist because of him
Brainstorming -->
- When your legal guardian decides you deserve a treat and spoils you with some Shloer, it would seem that we can come up with the most genius of inventions... this is how some businesses are born
- Suggest anything and everything until something is mentioned that has potential
The post-it was born because one 3M worker needed to mark a book without damaging it.
Another had designed an adhesive that formed a sphere rather than a film.
BOOM!!! Post-it!
Stealing ideas from other countries --> USA adopted the coffee bar culture by introducing Starbucks
Inventing new original ideas --> Dyson did not invent the vacuum cleaner but they made it what it is today
Spotting trends --> Friendship bracelets became loom bands
We all know how this feels!!!
Market niche --> Finding the gap in the market that is yet to be exploited. Can you think of any market niches?
~~x~~
So we've come up with our incredible suggestions... now to stop the competition stealing our ideas!
There are three forms of intellectual property protection:
Trademark --> protects a business's distinguishing feature such as a logo or slogan
Copyright --> protects creative and artistic works such as literature or music
Patent --> legal protection that protects a new invention. A patent lasts 20 years and has to be renewed every 5th year.
We need to protect our business ideas so that we have a unique selling point. A USP makes us different from our competitors. If we have a USP it means we can charge more for our product and thus make more profit.
However, by protecting our idea, we are stopping others using the invention to further advancements in society. We may not be where we are today if people like Nikola Tesla had patented his work.
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