How can I secure my product ideas from being copied ?

(This article is my answer to a post on Quora)

data-protection-law-and-doctors

Ideas mean nothing. There are three components of any business i.e. what are you going to do (concept), how are you going to do this (implementation plan) and how will you make money on this (revenue streams and business model).

In these three, the implementation plan or the ‘how’ part is the most critical aspect. Unless you have a good implementation plan, AND a team that can execute that plan well, ideas are worthless.
You may have the most appropriate strategy, but if you cannot roll that out in the market, then its not going to be very useful.
Your idea is just the ‘what’ part of the puzzle. Yes, a good idea can be a great asset. But I am going to argue that a good idea is not a necessary condition, and certainly not a sufficient¬†for a business to be successful. In fact, there are enough examples of successful businesses who have taken an ordinary idea and implemented it well. (Here is a great article from Mahesh Murthy that outlines the important of great execution –¬†RedBus.in: How is Redbus.in innovative?.).
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