Mum's The Word

Keeping your idea confidential
1 min read
Opinions expressed by Entrepreneur contributors are their own.

Entrepreneur magazine, January 2000

During his diabetes monitoring product's research phase, inventor Kazi Ahmed, owner of NuMedics, 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 Sources

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

Don Debelak is a new-business marketing consultant and the author of Bringing Your Product to Market (John Wiley & Sons). Send him your invention questions at dondebelak@uswest.net

More from Entrepreneur
Entrepreneur Select: A Fund For Entrepreneurs, By Entrepreneurs

Entrepreneurs require more than just money, which is why we aim to empower you, as well as act as a catalyst for value creation.

Discover the franchise that’s right for you by answering some quick questions about
  • Which industry you’re interested in
  • Why you want to buy a franchise
  • What your financial needs are
  • Where you’re located
  • And more
Whether you want to learn something new, be more productive, or make more money, the Entrepreneur Store has something for everyone:
  • Software
  • Gadgets
  • Online Courses
  • Travel Essentials
  • Housewares
  • Fitness & Health Devices
  • And More

Latest on Entrepreneur