Question regarding the path I should take with my potential startup
Hi WSO, I have a friend who's a regular on this site. I was talking to him recently, and he said some pretty good things about this site and recommended that I seek advice here. (I wasn't quite sure where to post, so I made two threads, one in the VC subforum and another in the Other subforum). A little about myself: I hold a PhD in Physics/EE/Applied Math from a top tier program and have been working as an engineer for the past few years.
Recently, I've come up with several ideas for creating a small, portable power generator that outputs power/electricity from mechanical forces found in everyday life. I recently created a prototype that carries out my most basic idea, and from the tests I've run, it's already more powerful than similar generators on the market, as measured by power density. I'll be working on the remaining prototypes in the coming weeks, but I'm fully expecting that each will be even more efficient than the first.
Now here's the dilemma (and the reason I've been pretty vague thus far): the idea in itself is not complex. Although there are very few engineering/physics majors on here, I'm sure all of WSO could fully understand how my idea works within half an hour tops. Moreover, the materials used are relatively cheap, and the construction process isn't complex. If I were to divulge my ideas to an angel investor or VC firm in hopes of obtaining funding, I'm sure they could very well just take the idea and execute/capitalize on it themselves.
Anyone have any ideas on what to do next/possible paths to take in a situation like this? File a patent perhaps and wait for pending status? Much thanks in advance for any insights.
Either file a patent (best option) or make sure you sign a non-disclosure agreement with any potential investor, or anyone you tell the idea to, really. Only once you are protected to the max should you discuss your idea and product. If you are 100% sure this would work, it may be a good investment for you to hire a lawyer, and then perhaps someone to help you write up a business plan.
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