admiral007: Pls forummate, I have been wondering over the last few days now about a great business idea I got. The Idea I believe will be of great Value to an existing business establishment here in nigeria. My challenge therefore this the fact that I don't know how best to approach a prospective Licensor(the existing business's owner) about it, this is because of the fear of been push away after it must have been hijacked.
Please I know the are a few ways one can patent an invention(idea) for SAFE use, but am a bit worried and confused at the moment due to the fact that I lack the technical Know-How in this case.
But am equaling carrying out some research and have done a comprehensive business plan to this effect.
Pls can someone out there kindly help me with the best way to go about it? What will I need to guarantee my idea is safe and secure if I must approach a licensor.
Thanks is I look forward for your contributions.

cdekj:

Good day,
If I get you correctly,
you have a business idea that would be valuable to existing business establishments in Nigeria but..
you don't know how to go about it.


You also want to sell it to them and at the same time,
you don't want your idea to be hijacked while you are discarded.


To help you better, you would have to clarify the following details:-

1) What nature of existing businesses/ sector would really benefit from this your idea?

2) Is what you have just an idea or an idea for a product that would help them....
save money
make more
reduce cost..
save them time
hope you get the idea

3) What do you really intend achieving after meeting them?
Joint Venture, Royalties, Partnership or a one time Sales
.
.
.
.

Be aware that a NDA Non Disclosure Agreement is cool in theory,
but practically worthless - at least in Nigeria.


The best you can do
Is give a general description of what your idea can do for them,
while omitting the specifics of the exact step by step process
until there is a form of commitment.


P.S [/b]You are the[b] licensor [/b]because you are the one granting them the right to your license
while they (the existing business establishments) are the [b]licensee.

P.P.S: Before approaching a prospective licensee. Try and do your due diligence.
In every firm there are gate keepers
say like their personal secretary for instance or an insider
who would guide you on how the organization is being run

Else, your proposals would be given to those selling roasted corn by the roadside free of charge

No two firms run the same way.

I hope this helps..
Cheers

cdekj:

Good day,
If I get you correctly,
you have a business idea that would be valuable to existing business establishments in Nigeria but..
you don't know how to go about it.


You also want to sell it to them and at the same time,
you don't want your idea to be hijacked while you are discarded.


To help you better, you would have to clarify the following details:-

1) What nature of existing businesses/ sector would really benefit from this your idea?

2) Is what you have just an idea or an idea for a product that would help them....
save money
make more
reduce cost..
save them time
hope you get the idea

3) What do you really intend achieving after meeting them?
Joint Venture, Royalties, Partnership or a one time Sales
.
.
.
.

Be aware that a NDA Non Disclosure Agreement is cool in theory,
but practically worthless - at least in Nigeria.


The best you can do
Is give a general description of what your idea can do for them,
while omitting the specifics of the exact step by step process
until there is a form of commitment.


P.S [/b]You are the[b] licensor because you are the one granting them the right to your license
while they (the existing business establishments) are the licensee.

P.P.S: Before approaching a prospective licensee. Try and do your due diligence.
In every firm there are gate keepers
say like their personal secretary for instance or an insider
who would guide you on how the organization is being run

Else, your proposals would be given to those selling roasted corn by the roadside free of charge

No two firms run the same way.

I hope this helps..
Cheers

admiral007:

Bro u av been very helpful, tnx very much for your contributions. I think I need to iron out some details u posted.