Enriching Life Through Innovative Ideas SM

How to safeguard lucrative business ideas

For entrepreneurs in California, innovative ideas can bring about a great deal of success. That’s why many business owners have concerns about their ideas being stolen by competitors and used for financial gain. There are steps you can take to prevent this from happening however, as illustrated by Inc.

Put Things In Writing

Business matters are usually discussed on many different platforms. This includes in-person meetings and phone calls, which can make it difficult to refer back to discussions in the event there is a dispute down the line. Having a record of conversations, when they occurred, and what was discussed is very helpful in this regard. Sending a follow up email is recommended, as this establishes the content of the meeting and what was agreed upon. In the event you do end up in court this information will prove extremely useful.

Know Best Practices for Non-Disclosure Agreements

There are many different types of non-disclosure agreements (NDAs), each of which offer different levels of protection. Knowing which one best suits your situation is crucial to secure your valuable ideas. For instance, some NDAs entail terms while others do not, and some hold both parties to non-disclosure (these are known as mutual NDAs). If you have questions about the best protection for your needs, consult with an attorney.

Find a Foothold in the Market

Establishing a foothold in the market will allow you to stand out to consumers. The goal is to make your business synonymous with the goods or services you’re offering. This will give your competitors less leverage with your ideas, as consumers may view them as imitations of the real thing. You can also work to create solid relationships with retailers and manufacturers to ensure you have priority over other businesses.

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Starting a new business can be a bit scary. Aside from worries of failure, there’s also the hassle of making sure all legal paperwork are properly filed. I reached out to Mr. Wang (Tommy) because of his excellent reviews and reputation and I am so glad I did. He was thorough and meticulous in answering all of my concerns and took time to find out special laws and policies regarding the kind of business I am starting. I could focus on the daily practical side of starting my new office without worry because I felt Tommy was reliable and took my case seriously. My business is opened and it’s all been a smooth start because of Tommy’s help. I have plans to start another business venture in the next few years and I already know I’ll be coming back to Wang IP Law.

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I came to Tommy for help reviewing a licensing agreement I had secured with a well-known manufacturer. Tommy made sure I understood all the details in the contract and he negotiated with the company to improve my side of the deal. I mentioned to Tommy at my first consultation that we were looking to expand throughout the US and were investing a lot of money to make a big entrance into the market. I did not think I would have my store open so soon but Tommy also has connections with the local area and realtors to help me secure the location for my first store in the Los Angeles area. Tommy works a lot with the local businesses and he understands how to transition from the Asian market to US market. Within 8 months my store was open for business and fully operating. I must recommend Tommy to any business owners looking for help with contracts and improving their side of the deal. Tommy has the knowledge and experience to make sure there is a smooth process to open for business here, and make sure that your company is set up for success.


I think Tommy and his team by far considered the best people to work with in my 16 business years. Beside quick responses to all my inquiries, they also done things right and providing very professional solutions. I’m highly recommending Tommy and his firm to all business owners.

Calvin C.

I have been working on my Utility Patent for almost 4 years. I have hired and fired two very reputable IP firms because with all their expertise and reputation for being some of the top firms in IP Law, I felt a lack of connection and care in my product, time and financial investment. Then I found Tommy and his team. Tommy does not waste time. He and his team are professional and extremely thorough. After 4 years, I finally found a legal team that I felt spent the time to really understand the components of my utility patent. Tommy also very mindful of cost and how and where my money would be better spent. I really feel I am in great hands with Tommy and his team. They have been patient with my revisions. And most importantly, they made me feel that they fully understood the importance this patent is to me. It has been a great and comforting pleasure working with Tommy.


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