How do we prevent a large competitor from just implementing our feature?

Question

Hi!

When talking to investors, how do we convince them that the feature we propose won't just be implemented by Facebook, or some other big company potentially competing in the same market? How do we efficiently protect our first-to-market advantage?

Thanks,
Caleb

Business strategy
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COUNTRY
Nov 01, 2014
POSTED DATE
3
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Answers: 3 public & 0 private

Winslow 10162011 mg 0063
Other Consultant

The reality is that Facebook could implement the same feature. However, if the feature is patentable, and you file a patent application before anyone else does, you could pay back your investors with an enforceable patent. The key is a detailed patent feasibility study and a well written patent application that can be enforceable if it issues.

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