Entrepreneurs are often worried about copycats ripping off their business ideas and so shy away from talking to investors, potential customers and industry professionals who could help bring them to market. How can you share your ideas but protect your intellectual property? Serial entrepreneur Jen Groover suggests creating a nondisclosure agreement and requiring those you meet with to sign it before revealing your product or service ideas. What's more, you can also trademark your concepts. Getting feedback on your business ideas is important for launching a successful business, so don't let fear of copycats hold you back.
Related: Free Nondisclosure Agreement Form
Jen Groover is a serial entrepreneur who's gone from guest-hosting spots on QVC to inking deals with some of the industry’s biggest heavyweights. Her success began with the creation of the Butler Bag, the world’s first compartmentalized handbag, and has evolved into an entire lifestyle brand, which can now be found at several prominent retailers. She's also behind Leader Girlz, which teaches young girls the importance of empowerment through play, and her newest brand, Empowered by Jen Groover. Groover is also an author, speaker and media contributor.