Intellectual property law

How to Build an Empire Based on Your School Project

You would have to be living under a rock if you did not know that Facebook was built by a college dropout who had a knack for website development. It eventually gave rise to the most famous social networking site today. It is hard to imagine what Mark Zuckerberg could have done with a college degree because of the success that he has today.

Your time at the university is a big deal. Some of the greatest business owners today began with an idea they had while studying in college. Pretty much all successful businesses started by identifying a problem and creating a possible solution for it.

Dell, Dropbox, Google, Microsoft, Yahoo!, Reddit, WordPress, and Snapchat — these are some of the most famous names in contemporary times, and they all began as projects by college students. Every person who developed these brands could never have imagined that they would get the recognition they have today.

So why can you not do it, too? Why not take your ideas and turn them into something great? It can be something profitable that everyone around the world can use. If you truly believe that your idea has potential, you have to treat it like it matters.

Secure the Rights to Your Creation

Everything your mind produces can count as intellectual property. It can be in the form of an invention, or a literary or artistic work, such as designs, images, symbols, or names that you can put a patent, copyright, or trademark on.

Intellectual property rights are not a laughing matter. Getting your creation the rights it deserves is important because it can cost you potential revenue in the long run. You may not think that your creation can sell now, but given proper marketing, you can be sitting on top of your empire’s building after a few years.

That is to say that you secured the appropriate protection. If you have the right to protect your creation, you also have the power to stop anyone from using, selling, making, or importing it without your permission.

Securing intellectual property rights can also be an arduous task because there are so many people in the whole world who could have the same ideas as you. Part of applying for patents includes researching if your idea is worthy of being patented and if it really is your invention to begin with.

Businessman holding a transparent screen with an inscription a intellectual property. Business, technology, internet and networking concept.

Sell Your Ideas or Inventions

Once you have secured the rights to your creations, you can now find investors who can fund your business. You can also sell the idea or invention to a company that can promote or produce your creations while giving you recognition and financial credit.

But applying for a patent can sometimes be expensive and gruesome. You might need to consult intellectual property or commercial lawyers nearby to help you go about the best way of selling your ideas without a patent if it ever comes to it.

If you do not want to go through the process of patenting your creation, you can have the company where you are selling your idea sign a non-disclosure agreement (NDA) so that they cannot steal your idea.

However, some big named-companies are not keen on signing an NDA because you can hold it against them if they commit a breach of contract. They might see NDAs as potential lawsuits and would therefore choose to no longer work with you.

When this happens, you will have to find better companies who can bring your ideas to life while giving you the proper recognition and financial benefit that you deserve. There are still good people in the world; you have to find them.

Monetizing your work can be highly profitable as well as mind-numbing. The process of getting to the point where you can patent and sell your creations can be a very long and winding road. But that is often how all great ideas begin.

Your web development projects, short film or novel writing requirements, or even the robot you invented in class can all be great things one day. If you take the time to work on your ideas after the class is over, you can be well on your way to becoming a successful business owner.

So believe in yourself and your capabilities. There is not much limiting you from exploring your abilities because you are, after all, in school. Learn what you can and apply what you learn. This way, you can create something from what you know. That is how all the greatest minds began.

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