My Billion Dollar Idea: How do I cash in?

Welcome to our community

Be a part of something great, join today!

Register Log in
DaRizzle

DaRizzle

BLAKER
Joined
Sep 16, 2008
Messages
9,631
Likes
104
Points
48
Ok...so I have this idea that I think would be a revolutionary way to experience music thanks to new emerging technology. Obviously I dont want to tell you guys the specifics in case this idea is as good as I think it is...heres what I cant figure out, how to maintain my middle man status in this idea of mine.

Ok...Id have to pitch this idea to the record labels and bands that were interested in trying this new technology thats already in existence just not used in this manner....So how can I have them not just steal my idea when I pitch it to them? You cant patent an idea that uses already available technology but just used in a brand new application???? Can you?

Anybody with knowledge in this type of stuff?

Anybody give me good info on this and Ill give you 10k when i net my first million :cheers:
 
Last edited:
DaRizzle said:
Ok...so I have this idea that I think would be a revolutionary way to see concerts and listen to music thanks to new emerging technology. Obviously I dont want to tell you guys the specifics in case this idea is as good as I think it is...heres what I cant figure out, how to maintain my middle man status in this idea of mine.

Ok...Id have to pitch this idea to the record labels and bands that were interested in trying this new technology thats already in existence just not used in this manner....So how can I have them not just steal my idea when I pitch it to them? You cant patent an idea that uses already available technology but just used in a brand new application???? Can you?

Anybody with knowledge in this type of stuff?

Anybody give me good info on this and Ill give you 10k when i net my first million :cheers:
Click to expand...

I already figured out what your idea is and I'm working on selling it right now.

barfo
 
that answer will not qualify for the reward money, sorry
[video=youtube;XeE1hBjjaGg]
 
I don't know how you would make money off this. If the technology exists already, and you're just pitching that technology to the record labels, I think you're just going to waste a lot of time.
 
You can't patent, trademark, or copyright just an idea, and mostly, businesses are not interested in an idea alone.

That said, what you can do is have people sign a non-disclosure agreement (NDA). This says you are sharing proprietary information and they can't use it without your written approval. It's not perfect without an actual product to share, but it will make people think twice about ripping you off.

It would be better if you had at least a prototype or a proposal - those would be covered by your NDA.

Here is something I wrote about this subject that may be of help.
 
Take the idea to Paul Allen, he's use to overpaying for ideas and having them go bankrupt a few years later.
 
If its just a new way to use existing technology, not much you can do. If I were you, I would be a consultant/expert in implementing this process and charge for it.

Make the pitch as technical and convoluted as possible so they won't just do it in-house.


Or shrow up a "how to" website on the technique.
 
You could consider contacting the people who produce the existing technology to try to license the technology for use in the music industry. I doubt you could patent/copyright anything given that you are essentially reusing someone else's product in a new way. They might be able to patent the idea, though, on the basis that it is their product, and you might be able to get an exclusivity agreement on the basis that you told them about the idea.

In essence this is what I am advising:
- Get a contract written up; essentially a non-disclosure agreement to talk to the business
- Make it clear that you will waive the NDA if you get exclusivity (you might have to pay quite a bit for this, nonetheless)
- Tell them the idea
- If they like it, they might well give you the exclusivity license

Are there any other ways you could work around this, though? Perhaps develop the technology yourself, making some key changes that make it more suited to the music industry?
 
NDA: Definitely
Patent: Actually I think you can patent a new use of existing technology. If it's done in a unique way. I know my buddies at Intel are always trying to sneak out patents.

Heck, from what I am told, IBM even patented an algorithm for the most efficient way to seat people on a plane. Seating people on a plane is not new technology. Applying the algorithm is...so I guess it's a fine line. If you really think it's that great, be prepared to spend the $500 for the initial consultation with the patent sheis...err I mean attorney.
 
If you want to be cheap, just write it up as a document and send to the US Copyright office for $30....if someone copies it too similarly, then sue them for copyright infrignement. Make it a manual or methodology...that's just an extra protection past a NDA and is a low investment.
 
I can't tell if you're saying it's a software idea or a hardware idea -- that would impact my analysis somewhat. If it's an idea that puts several patented inventions together in a new combination, your combination idea is still patentable (although you might need to get licenses to those other inventions to avoid infringing).

While an NDA might sound good to you, the likelihood of getting anyone to sign it probably isn't that great. Most VCs would laugh if you tried to get them to sign one. Most companies would also avoid it because they don't want to be accidentally tainted (they would likely have active ongoing research and would not want you to later claim you gave them the idea when they were already working on it anyway.)
 
give it up darizzle, boob speakers exist already.

2436.jpg


speakers-thumb-200x160.jpg
 
mobes23 said:
I can't tell if you're saying it's a software idea or a hardware idea -- that would impact my analysis somewhat. If it's an idea that puts several patented inventions together in a new combination, your combination idea is still patentable (although you might need to get licenses to those other inventions to avoid infringing).

While an NDA might sound good to you, the likelihood of getting anyone to sign it probably isn't that great. Most VCs would laugh if you tried to get them to sign one. Most companies would also avoid it because they don't want to be accidentally tainted (they would likely have active ongoing research and would not want you to later claim you gave them the idea when they were already working on it anyway.)
Click to expand...

Umm..not to disagree but I will Mobes... :grin:

Most VCs I have dealt with would be laughing themselves silly if you walked in WITHOUT a NDA.

They can't be entangled if they can prove they've seen the idea before. You can trust VCs all you want...but I wouldn't.
 
I think its important to determine how you want to make money as a "middle man" and how you are even going to get in the door with music executives. Do you have the contacts to get in?

Are you going to make money through a commission on record/album sales?

are you going to implement the process itself and charge a fee?
 
yakbladder said:
Umm..not to disagree but I will Mobes... :grin:

Most VCs I have dealt with would be laughing themselves silly if you walked in WITHOUT a NDA.

They can't be entangled if they can prove they've seen the idea before. You can trust VCs all you want...but I wouldn't.
Click to expand...


I agree! I would never trust Vince Carter.
 
DaRizzle said:
Ok...so I have this idea that I think would be a revolutionary way to experience music thanks to new emerging technology. Obviously I dont want to tell you guys the specifics in case this idea is as good as I think it is...heres what I cant figure out, how to maintain my middle man status in this idea of mine.

Ok...Id have to pitch this idea to the record labels and bands that were interested in trying this new technology thats already in existence just not used in this manner....So how can I have them not just steal my idea when I pitch it to them? You cant patent an idea that uses already available technology but just used in a brand new application???? Can you?

Anybody with knowledge in this type of stuff?

Anybody give me good info on this and Ill give you 10k when i net my first million :cheers:
Click to expand...


Uh, "records" haven't been made for a loooooooong time. Please tell me your idea isn't an 8-track cassette player.
 
Stevenson said:
You can't patent, trademark, or copyright just an idea, and mostly, businesses are not interested in an idea alone.

That said, what you can do is have people sign a non-disclosure agreement (NDA). This says you are sharing proprietary information and they can't use it without your written approval. It's not perfect without an actual product to share, but it will make people think twice about ripping you off.

It would be better if you had at least a prototype or a proposal - those would be covered by your NDA.

Here is something I wrote about this subject that may be of help.
Click to expand...

Holy crap you wrote that book? Looks like I just found my new adviser! :ghoti:
Thanks for all the answers everybody...I encourage more.
With enough money I could buy the technology I am going to use and give a demonstration using an amateur musician...i dunno, just worried they could still steal the idea...

Im sure there is some official patent website....gotta check about "ideas"
 
yakbladder said:
Umm..not to disagree but I will Mobes... :grin:

Most VCs I have dealt with would be laughing themselves silly if you walked in WITHOUT a NDA.

They can't be entangled if they can prove they've seen the idea before. You can trust VCs all you want...but I wouldn't.
Click to expand...

Bay Area or LA VCs would think it's crazy. Seattle too. Can't speak for PDX.

Edit: I should clarify it's been 3-4 years since I was on the frontlines of startups. It's possible that things might've changed.
 
Last edited:
DaRizzle said:
Holy crap you wrote that book? Looks like I just found my new adviser! :ghoti:
Thanks for all the answers everybody...I encourage more.
With enough money I could buy the technology I am going to use and give a demonstration using an amateur musician...i dunno, just worried they could still steal the idea...

Im sure there is some official patent website....gotta check about "ideas"
Click to expand...

www.google.com/patents

you'll never find everything out there but you'll get the idea. get a patent agent if you want to file something. maybe the USTPO office has something on there.
 
I don't think putting your ipod earbuds in your mouth to listen, counts as a "new" innovation in sound.
 
You must log in or register to reply here.

Users who are viewing this thread

Total: 1 (members: 0, guests: 1)
Back
Top