Test The Waters

Mum's The Word

Keeping it confidential

During his diabetes monitoring product's research phase, inventor Kazi Ahmed set up a focus group with people who counsel or treat diabetics. But how could he be sure they'd keep his idea under wraps? Attorneys typically tell inventors to get a Statement of Confidentiality and Non-Use (which Ahmed used) from people to whom they reveal their idea. I find many people resist signing this statement, and that sets up an atmosphere of mistrust, especially with industry people who are just there to help you with informed product input.

Fortunately, there's another tactic for accomplishing the same agreement to secrecy. Ask people to sign a Technical Advisor Agreement in which they agree to provide you with occasional input regarding your product during its development stage. As part of the agreement, the advisor agrees to keep any proprietary information confidential. The end result? Your secret's safe with them.

Contact Source

Lentek International, 1629 Prime Ct., #800, Orlando, Fl 32809, (407) 857-8786

NuMedics, (503) 291-9190, kahmed@numedics.com

« Previous 1 2 3 4 Page 5

Like this article? Get this issue right now on iPad, Nook or Kindle Fire.

This article was originally published in the January 2000 print edition of Entrepreneur with the headline: Test The Waters.

Loading the player ...

Before You Quit Your Job, Do These 10 Things

Ads by Google

Share Your Thoughts

Most Shared Stories

1
15 Signs You're an Entrepreneur
2
10 Things All Entrepreneurs Must Do Before Quitting Their Day Job
3
Want Media Attention? Target Trades First
4
25 Common Characteristics of Successful Entrepreneurs
5
The 80/20 Rule and Listening to Your Inner Procrastinator