How can it be safe to share my business concept?

An idea is just an idea, and if it's good, you're likely not the only one with it. So, in some cases, you can stop worrying and start building.

By Sidnee Peck  |  Director, Center for Entrepreneurship

Question: I have an idea, but I am afraid someone will steal it if I share the concept.

Answer: There are two situations in which this fear is very relevant: You have a new invention that could be protected by intellectual property rights, such as a patent, or … You are talking about it with people who are both passionate about it and have the desire, skills and resources to build it without you.

Talking about your idea with others is the best way to grow your idea, find partners, gain advocates and get funded. If you're still nervous, you can talk about the overall concept, not the "secret sauce" of how it works. This allows you to talk to the right people and get your idea out there without sharing anything that is proprietary. If you need a patent, visit the U.S. Patents and Trademark Office at uspto.gov or your local law school for guidance. An idea is just an idea, and if it's good, you're likely not the only one with it. So, in some cases, you can stop worrying and start building.

Sidnee Peck, director of the Center for Entrepreneurship at the W.P. Carey School of Business at Arizona State University, regularly works with many Arizona businesses and business incubators.

First published in The Arizona Republic, April 7, 2015.