Hello,

I need you advise.

I have this idea of rebranding a particular industry in the country and there is a possibility of franchise springing up from it. This is similar to what happened to the pure water industry, but more capital intensive.

I have been seeing this brother on social media who seem somewhat like a well to do entrepreneur to me. It eventually happened that my suspicions were right when he talked about answering questions from young entrepreneurs who were fielding questions for him to answer.

With that in mind...

I asked question about my idea without giving details and he encouraged me to push on and that banks may not grant me loan. I have never fancied the idea of even going to the bank.

A minute after that his posted, dude seem to caught the bug, he granted me a chance to speak with him privately and possibly partner with him.

Sincerely, I appreciate this.

I had even tried to reach out to Jim Iyke before now considering his recent venture into entrepreneurship, but surprisingly, Jim denied his own twitter handle.

I just thought to myself that if only this guy knew what I wanted to share with him, he would have kicked himself for going the pure water route, an already over saturated market with little chance of expanding or franchising.

That's how people lose out on chances in life.

Now, this other brother has giving me a chance to speak with him and even partner if possible.

Imagine being giving a chance to discuss and possibly partner with Dangote or Tony of UBA, how would you protect yourself and prevent your idea from being hijacked and you discarded?

Though the brother is christian, a devoted one... But we are humans with weaker flesh. So I can't trade my chance of success even if he had a face of Jesus.

I need the best way to know how to handle this situation.

Thanks in advance.

ismart:
Hello,

I need you advise.

I have this idea of rebranding a particular industry in the country and there is a possibility of franchise springing up from it. This is similar to what happened to the pure water industry, but more capital intensive.

I have been seeing this brother on social media who seem somewhat like a well to do entrepreneur to me. It eventually happened that my suspicions were right when he talked about answering questions from young entrepreneurs who were fielding questions for him to answer.

With that in mind...

I asked question about my idea without giving details and he encouraged me to push on and that banks may not grant me loan. I have never fancied the idea of even going to the bank.

A minute after that his posted, dude seem to caught the bug, he granted me a chance to speak with him privately and possibly partner with him.

Sincerely, I appreciate this.

I had even tried to reach out to Jim Iyke before now considering his recent venture into entrepreneurship, but surprisingly, Jim denied his own twitter handle.

I just thought to myself that if only this guy knew what I wanted to share with him, he would have kicked himself for going the pure water route, an already over saturated market with little chance of expanding or franchising.

That's how people lose out on chances in life.

Now, this other brother has giving me a chance to speak with him and even partner if possible.

Imagine being giving a chance to discuss and possibly partner with Dangote or Tony of UBA, how would you protect yourself and prevent your idea from being hijacked and you discarded?

Though the brother is christian, a devoted one... But we are humans with weaker flesh. So I can't trade my chance of success even if he had a face of Jesus.

I need the best way to know how to handle this situation.

Thanks in advance.

Have him sign an agreement of nondisclosure. You need a good Lawyer for this.
Do not take chances.

Greenlandncom:

Have him sign an agreement of nondisclosure. You need a good Lawyer for this.
Do not take chances.

thanks. How much will that cost me? I have never used on so I don't know how it's done.

ismart:
thanks. How much will that cost me? I have never used on so I don't know how it's done.

Honestly, I can not tell you how much it will cost you. But it certainly can not be costlier than you losing your business idea.
Just approach any good Lawyer and tell him to prepare a document for you to that effect. You will now make anyone who wants to take a look at it to sign the document. But again be careful because this can only work properly in a developed world, where laws are respected.
Note: if it is an idea, you need the agreement document but if you can produce a prototype or a sample, do that and patent it. This will be your best option.
Just guide your stuff jealously.

ismart:
Hello,

I need you advise.

I have this idea of rebranding a particular industry in the country and there is a possibility of franchise springing up from it. This is similar to what happened to the pure water industry, but more capital intensive.

I have been seeing this brother on social media who seem somewhat like a well to do entrepreneur to me. It eventually happened that my suspicions were right when he talked about answering questions from young entrepreneurs who were fielding questions for him to answer.

With that in mind...

I asked question about my idea without giving details and he encouraged me to push on and that banks may not grant me loan. I have never fancied the idea of even going to the bank.

A minute after that his posted, dude seem to caught the bug, he granted me a chance to speak with him privately and possibly partner with him.

Sincerely, I appreciate this.

I had even tried to reach out to Jim Iyke before now considering his recent venture into entrepreneurship, but surprisingly, Jim denied his own twitter handle.

I just thought to myself that if only this guy knew what I wanted to share with him, he would have kicked himself for going the pure water route, an already over saturated market with little chance of expanding or franchising.

That's how people lose out on chances in life.

Now, this other brother has giving me a chance to speak with him and even partner if possible.

Imagine being giving a chance to discuss and possibly partner with Dangote or Tony of UBA, how would you protect yourself and prevent your idea from being hijacked and you discarded?

Though the brother is christian, a devoted one... But we are humans with weaker flesh. So I can't trade my chance of success even if he had a face of Jesus.

I need the best way to know how to handle this situation.

Thanks in advance.

Signing a NDA can only protect you partially and you may not be able to box him if he decides to execute your idea by proxy.

The only true way to protect your idea is to first of all develop it to a ready to apply stage in terms of specificsand pparameters as well as concept definition.FFlow diagrams and most importantly represent it in a flow chart if applicable.
Then speak to a lawyer about the patentability of the concept. That is to know if the idea falls within the requirements of the Nigerian Patent law.

Most importantly, your idea must satisfy Section 3(2) of the Nigerian Parents and Design Act. Your idea must also satisfy the sufficiency requirement stipulated in the Act.

But don't worry yourself with all these jagons am speaking, me my self I am a Mechanical Engineer. I got to know all these things because I am currently in court with some people who stole my patented idea.

To patent your idea, search for a lawyer conversant with patent matters although they are very few. I could introduce u to my own law firm but from the way u sounded I dont know if you will be able to afford the cost. I dont think it would be up to N100k. For everything.
Though when I did mine another lawyer charged me 50k and that was some 5 yrs ago.

Hit me up if u still need more talk.
1!

underlinee:


Signing a NDA can only protect you partially and you may not be able to box him if he decides to execute your idea by proxy.

The only true way to protect your idea is to first of all develop it to a ready to apply stage in terms of specificsand pparameters as well as concept definition.FFlow diagrams and most importantly represent it in a flow chart if applicable.
Then speak to a lawyer about the patentability of the concept. That is to know if the idea falls within the requirements of the Nigerian Patent law.

Most importantly, your idea must satisfy Section 3(2) of the Nigerian Parents and Design Act. Your idea must also satisfy the sufficiency requirement stipulated in the Act.

But don't worry yourself with all these jagons am speaking, me my self I am a Mechanical Engineer. I got to know all these things because I am currently in court with some people who stole my patented idea.

To patent your idea, search for a lawyer conversant with patent matters although they are very few. I could introduce u to my own law firm but from the way u sounded I dont know if you will be able to afford the cost. I dont think it would be up to N100k. For everything.
Though when I did mine another lawyer charged me 50k and that was some 5 yrs ago.

Hit me up if u still need more talk.
1!

well, money wouldn't have been a problem except that right now I am in tight corner due to some mistakes I made on another business few weeks ago.

I will get in touch as soon as I can.

Greenlandncom:
Have him sign an agreement of nondisclosure. You need a good Lawyer for this. Do not take chances.

replied you sir. Thanks in advance.

owo ma to jona.