Transcript Generating and Protecting Business Ideas

Protecting your business idea
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Spotting Trends
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Identifying a Niche Market
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Copying Ideas from other countries
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Taking the Scientific approach
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Franchising is an alternative to setting up
your own business from scratch.
A franchise allows a franchisee to
 Use a proven business idea
 Trade under a well know band name
 Receive help and support.
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Less risk
Brand identity is already established
Banks are usually more willing to lend to
someone wishing to buy a franchise.
Lower advertising and promotion costs
Relationships with suppliers are already
sorted out
Training etc is generally provided.
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Costs may be higher then if operating as an
independent.
Could be adversely affected by bad press
about other franchisees
There are usually restrictions on how the
business can be run
May be difficult to sell on the franchise
If the franchisor gets into financial difficulty
or changes how things are done this will have
an adverse impact
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Copyright = legal protection against copying
for authors, composers and artists.
Patents = an official document granting the
holder the right to be the only user/producer
of a new product/process.
Trademarks = signs, logos, symbols or words
displayed on a company’s product or
advertising, distinguishing its brands from
those of competitors.
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Books, information leaflets, film, computer
programs etc.
Need permission from the owner to copy.
Copyright will generally last for 50 years.
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Protecting a invention of a new process, piece
of equipment, component or product.
The Copyright, Designs and Patents Act 1988
– gives holders the monopoly right to use.
Patents;
Can be developed
Can be bought/sold
May attract takeovers
Can be complex and expensive
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Powerful marketing tools
Helps build the brand and helps customers to
recognise the products
Distinguish themselves from competitors.
Registered at the UK Intellectual Property
office.