Comments on: Cashing In on Small Company Ideas

By: Ted Mininni

Ted Mininni — Fri, 18 Sep 2009 22:27:59 +0000

Many feel as you do, Eric. I’m all for entrepreneurs launching their own businesses; after all, I did. Sometimes, though, an idea needs a serious infusion of capital to become reality. Not all entrepreneurs are able to raise the cash they need. In those cases, they can either choose partners or they may opt to bring their ideas to large companies for a piece of the action.
One other thing, Eric. If you have an idea, never think you might look like an idiot. Some of the most improbably ideas have led to some of our greatest inventions. And sometimes “no” opens the door to other possibilities.
Thanks for weighing in, here. I appreciate your comments, Eric.

By: Eric Rudolf

Eric Rudolf — Fri, 18 Sep 2009 18:49:45 +0000

I think I would always tend to try and make a run at something myself, before approaching a large company for help. That way, I have at least some sense that the idea is legitimate before I look like an idiot. Plus, in most cases the large company in question very likely needs the data you have (hopefully) collected to evaluate you as a partner.

By: Neil Anuskiewicz

Neil Anuskiewicz — Tue, 18 Nov 2008 20:02:52 +0000

What do you think of the idea of large companies soliciting ideas from entrepreneurs and small businesses?
I do not think that business is a zero-sum game. That is, that one party has to win and the other has to lose. At the risk of sounding trite, I think that win-win is more common than win-lose.
So this a great idea especially if an entrepreneur has a sound idea but not the resources to see it through. It is then a question of not much happening, and the idea happening. The choice is obvious.

By: Ted Mininni

Ted Mininni — Tue, 18 Nov 2008 17:01:00 +0000

Interesting stuff, Paul. Not a bad pitch for your services, either;). Thanks for weighing in here. I appreciate it.

By: Paul Tran

Paul Tran — Tue, 18 Nov 2008 16:52:41 +0000

Most companies are looking to leverage open innovation my deploying external idea portals for their partners and customers. We’ve seen this trend over the past 2-3 years. Cisco launched iPrize on our system and found over $20B in new markets on their top 3 ideas.
Here is more information on what companies are succeeding by leveragin open innovation concepts:
WebStorm 5.0 Product Overview
https://share.acrobat.com/adc/document.do?docid=3368579b-b2e2-44fa-8bf8-8ce2d9b63c0e
Regards,
Paul Tran
BrightIdea …. Innovation and Idea Management
ptran@ brightidea.com
415-992-2082 office/mobile
415-842-0300 fax
Yahoo IM: paultran888
http://www.brightidea.com

By: Ted Mininni

Ted Mininni — Mon, 17 Nov 2008 13:28:12 +0000

Good for you, Ideaman. Sounds like you’ve got the right idea. True innovations are sorely needed in many businesses now. Since so many companies are willing to outsource or interested in contracting the ideas of entrepreneurs, it’s a great time to be in your position. I wish you well in your endeavors, Ideaman. Go get ‘em.

By: Ideaman

Ideaman — Mon, 17 Nov 2008 13:05:30 +0000

I work for a company that designs develop and present product ideas to corporations. It’s basically an outscoring of R&D to us. We also work with Inventors helping them do product research, engineering, packing design etc. I have a feel this type of open innovation will be taking off soon.

By: Ted Mininni

Ted Mininni — Thu, 13 Nov 2008 19:06:49 +0000

Great points and question, Paul. Undoubtedly, the large companies are drawing up agreements, as well, and this kind of language ought to be in there. . .ought to be.
I suppose entrepreneurs could have their own attornies draw up documents that state that these innovative ideas are their intellectual property and then go on to spell out the agreement as to their use with the large company in question as additionl protection. I am not an IP attorney, so I’m not sure how all of this works. Perhaps some of our DF readers have this expertise and can tackle this for us.
Thanks for weighing in, Paul.

By: Paul

Paul — Thu, 13 Nov 2008 18:40:20 +0000

Ted, as you know a trademark application could be $10K. And I’ve never applied for one, but a patent is a very time consuming process (and then there is the wait for issuance).
How else can contributors and/or entrepreneurs protect their IP without having a company say, “oh we’ve already thought of that”–when they had not, and then taking that idea to market?

By: Ted Mininni

Ted Mininni — Thu, 13 Nov 2008 15:01:20 +0000

Exactly, Lewis. And I’ll say this: business people ought to put their heads together in this down economy to push innovative ideas forward. That might be the only thing that spurs some consumer spending right now. Thanks for your comment, Lewis. It’s appreciated.

By: Lewis Green

Lewis Green — Thu, 13 Nov 2008 14:04:07 +0000

In short: Smart people look for good ideas wherever they can be found.