The Value of a Good Idea Written by Robert Kiyosaki | Tuesday, April 21, 2015 Read time: 2 min Why you should always protect your intellectual property My first business was a nylon-and-Velcro wallet business. It was the 1980’s and we got the rights to make the wallets with the screen-printing of the names of popular bands of the time. It was very successful, and I thought I was a real business genius. When I was planning the business, I spoke with an attorney about a patent for my idea. When I found out that it was going to cost $10,000 in fees to file for my patent, I decided it was too expensive and not important. Another company quickly came along and copied my idea, and there was nothing I could do about it. Eventually, my business failed and I lost millions of dollars. Suddenly, that $10,000 didn’t seem like so much money, and I didn’t feel like such a business genius either. Are your ideas protected? The world is filled with business people and smart entre...
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