Copyrighting an ICO idea?


#1

I’m looking to bring an idea to life. It will involve a coin for monetary transactions and a token that has multiple uses within the blockchain and for the cel phone application. Both the coin and token have a unique use that will help solve this problem. Before I get started, I am wondering if there is a way to protect my idea from someone who wishes to recreate my idea and possibly create it before I get mine ready for market. Does anyone copyright their ideas? Does anyone have any thoughts on this issue? Is this a redundant issue? Thanks ahead of time for the knowledge. -LasVegas


#2

Dang it, I meant to mention that my idea will solve a real world problem, not just enable an investor to gain Satoshis and/or dollar value. Thanks.


#3

As far as I know copyright law is difficult to navigate, mostly because it can change country by country and if you are serious about it then it is probably best to speak to a professional in the industry. That being said, I do not believe it is possible to copyright an idea, copyright law is to protect recorded work not an intangible idea.

You can’t prevent someone from starting a business based on a similar idea, as long as they are not copying your work then it is just fair competition.


#4

Thanks, Sam! I figured as much, but I figured it was a fair question to ask. I appreciate how you usually(always) have an answer for my and everyone else’s questions, and you never seem to have the attitude of a question being a stupid question. Both you and Neuron are great. Thanks a bunch, guys. -LasVegas


#5

No problem, of course you can document your progress and create a business plan. I believe once you have something written down you can copyright it, unpublished or published.


#6

I do not know if this is a good idea however :slight_smile:


#7

You can get a legal patent on technology if your concept is unique, but it is usually an expensive process, often somewhere around $100,000. Copyright would be more for content like a book, movie, documentary or brand name.

A business plan is essentially just a business strategy, which is a different story. Who copyrights a strategy? I suppose it is possible… Hey, if a lady can sue a company for not stating that cruise control doesn’t mean you can leave the steering wheel to make a sandwich, then anything can be legalized…


#8

Hey, ok HoboMedia, thanks for the reply!