In my line of business (developing ideas into electronic products) the whole issue of intellectual property often comes up. People are protective of their ideas and that is fair.

Sometimes though we place an unrealisticly high value on the idea, instead of focussing on turning that idea into a reality and solving the problem that caused the idea. So people end up investing too much time in protecting their idea, and too little making it happen. By the time you've built your legal fortress, somebody else has already taken the market.

Patents are important and have a place in product development, but actually making something important has a far bigger impact on the world. Important does not have to be big or complicated – important solves problems (even small ones) and improves our lives.

There are some problems with trying too hard to protect your idea,

1. It may not be worth protecting

Many ideas are not patentable, as prior art already exists. Non–patentable ideas still have value – great beats good, remarkable beats mediocre. Improving on existing products, or turning old ideas into real products are important functions which need to happen continuously.

2. It slows things down

While you are busy building a legal fortress around your idea other people are busy building working versions of theirs. Having a market share and being ahead of everyone else may matter more than having the legal rights to an idea which has passed its sell by date.
Read the rest of my thoughts in the blog article, "Fast ideas, slow patents"

What do you guys think? Is protecting the idea more important than implementing it and owning the market share?