The buss word in the modern world is mobile app. Just as there are advantages, there are drawbacks too – an app idea, when it lands at the wrong hands, may thwart your fortune. With a large number of mobile apps hitting the cyber world on a regular basis and numerous app ideas being conceived every day, there’s little wonder about the concern: how to protect your app idea?
Significance of Protecting An App Idea
Unimaginable things are made possible through mobile apps in the modern world full of digital activities. This is clear from the fact that millions of apps throng the app stores and a mind-boggling number of downloads occur year over year. An App Development Company is one of the busiest entities in today’s business environment.
The prospects of developing new mobile apps for making profits in various ways haunt entrepreneurs and it is justified too. Unique apps having the best features and useful functionalities are expected to achieve phenomenal success. This makes it all the more important to keep your app idea safe from the clutches of the wrong people.
Here’s where the need arises for an efficient and reliable security mechanism that protects valuable, yet vulnerable intellectual properties. A Non-Disclosure Agreement (NDA), sometimes known as confidentiality agreement plays a vital role in restricting access by third parties to any information or confidential material that needs to be shared between two parties. Non-disclosure agreement is one of the most efficient ways of protecting trade secrets or proprietary information. It prevents the app development company as well as others from divulging information.
Protecting Your Mobile App Idea
The following ways are suggested for enabling entrepreneurs and App Development Companies to keep their app ideas safe:
- Non-Disclosure Agreement helps prevent app ideas from being shared by anybody who is not authorized. Asking designers, developers, business development executives, and other personnel connected with your project to sign and NDA ensures that the idea is safe.
- When you are sure you have a profitable app idea, apply for patent – this ensures that not only the functionalities of your app but also its possible variations and independent development are forbidden
- Trademarking ensures that anyone else cannot make use of the symbols such as logos and icons or words that are associated with your app.
- Entering into a non-compete agreement prevents people connected with your project from revealing any information about your app or its idea to anybody.
- Hire the right App Development Company for giving life to your ideas. Doing business with reputed and ethical people is the most certain way of keeping your app idea to yourself.
Facts About NDA and Factors to Consider Before Signing an NDA
NDA is document that establishes confidential and legally binding relationship between two parties. It forbids disclosure of information to third parties. While signing an NDA, care must be taken to consider the following:
- Scope of information covered by the NDA
- Consequences of breaching the agreement
- Use of information and the intended purposes
- Terms of the NDA