Sign on the Dotted Line
Many companies will ask that a submission agreement (or nondisclosure agreement, or NDA) be signed before they will review outside ideas. This may surface when you first approach the company or on the day you make the formal presentation. I rarely have had a problem with such requests. I always know with whom I am dealing and feel confident in the relationship. If I did not, I wouldn’t be there in the first place.
I recall my presentation of Star Bird, our electronic toy spaceship, at Milton Bradley in 1978. I was asked to sign a nonconfidentiality form and replied, “Okay. I’ll do it because you’re too big a company to rip us off, and we are too little to worry about it.” We went on to build a relationship that still exists today with current management 32 years later.
The best way to handle this eventuality is to have the document faxed or e-mailed to you in advance. This way you can at least verify what you are being asked to sign and can suggest modifications, if required. If you are uncertain about the language, consult an intellectual property attorney.
Even if you sign such a document, it does not give the company carte blanche to steal your idea. In some states, the law of torts affords limited protection to the owner of a trade secret (see Chapter 19) for the misappropriation of his or her ideas. Not all ideas are trade secrets. In fact, most of what you may be sharing in your meeting would be covered by the submission agreement.
Some inventors go for a quid pro quo, i.e., if they sign the company’s NDA, they expect the company to sign their agreement. Do what makes you comfortable. Many companies have no problem reciprocating in this way.
definition
A trade secret is a plan or process, tool, mechanism, or compound known only to its owner and people to whom it is necessary to confide it.
A suspicious attitude may seriously inhibit your progress. Put your time and energies into creating concepts versus overprotecting them. Become paranoid over this, beyond what is reasonable caution, and no one will ever see your ideas.
Inventions Wanted
Kellogg’s is looking for Gr-r-reat Ideas (and innovations). The company describes a Big Idea as a new product idea, recipe, or suggestion for improving the food or packaging performance of a current Kellogg product. A Great Innovation may be a new product that’s partially or fully developed and could be ready to launch quickly; a proposed business collaboration; or a patented food, packaging, or processing technology that may have application for Kellogg. Go to www2.kelloggs.com/greatideas for the details.
The Least You Need to Know
◆ First impressions are lasting impressions.
◆ Plan your approach and entrance very carefully.
◆ If you don’t understand the corporate culture, team with someone who has the experience. Rookie moves can get you thrown out at first.
◆ Look out for number 1, but don’t step in number 2.
◆ Don’t freak out over signing nondisclosure agreements.
◆ Life’s a pitch!
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