How to Convert an Idea Into a Business

Converting a new idea into a profitable business usually includes the creation of one or more forms of intellectual property. Here are four questions, which provide guidelines on how to best protect a new idea:
Does your idea involve a unique process, method, or invention?
If your idea includes any of these, then you may wish to apply for a patent. A patent generally gives the owner a monopoly on using the patented idea for 14 years. If the business idea is patented, it is usually wise to also apply for international patents to protect the invention’s use in other countries as well. A good patent attorney can offer more extensive advice if you decide to pursue a patent on your idea.
Does your idea involve a secret recipe, ingredient combination, or similar phenomena?
Unfortunately, many of these business ideas can not be patented. However, if you have a business …

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