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Author Topic: Can I make a living selling business concepts?  (Read 1703 times)

BigBangtheory

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Can I make a living selling business concepts?
« on: 09-12-08 at 06:43 pm »

I have tons of ideas, I am not interested in running it, just interested in selling the business concept to small business owners and getting a percentage from yearly revenues? Is this possible? How do I protect and sell the idea? and hoe do I actually sell the idea? 
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CriterionD

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Re: Can I make a living selling business concepts?
« Reply #1 on: 09-13-08 at 02:26 pm »

A patent can help protect the idea if it is patentable.  And you sell your IP by....well, selling it.  Convincing somebody else to do all of the "running it" stuff isn't always an easy feat, particularly as they are taking on most of the risk associated with your idea and they usually have other options regarding what to do with their resources.  But it is certainly possible.

gpw

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Re: Can I make a living selling business concepts?
« Reply #2 on: 10-07-08 at 01:07 am »

Most people would rather take a risk on their own idea, not someone else's.  Many people think good execution of an OK idea is better than an OK execution of a great idea.

Depending upon the type of business ideas you have, one path might be franchising. Theoretically, after you prove that the business idea works others do pay a % to you.

---George White
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landonew

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Re: Can I make a living selling business concepts?
« Reply #3 on: 10-07-08 at 10:52 am »

Without a patent you won't be able to sell your idea.  No one is going to pay for an idea they haven't been exposed to.  On the other hand, noone is going to pay for an idea that they have been exposed to but aren't estopped from using w/o a license.  Can you make a living doing this???  You can, but it is likely that you won't.  most business concepts are adopted after they have a proven track record.
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Bill Richards

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Re: Can I make a living selling business concepts?
« Reply #4 on: 10-08-08 at 07:33 pm »

One thing you might consider is a confidential disclosure agreement with an IP rights clause.  This would protect your idea from disclosure and help you retain rights to patentable ideas generated as a result of your discussions with others.  Not everyone will agree to such conditions, but it's a good place to start.
Another way to go is to contact, with the above agreement, consultants in the area of your idea.
Good luck.
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William B. Richards, P.E.
The Richards Law Firm
Patents, Trademarks, and Copyrights
614/939-1488
www.wbrfirm.com
 



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