On top of that, they must be "protectable from the onslaught of those big companies once they figure out what you're on to," Mr. Sacks said.
There are two ways that protecting Bauer this year could pay off – either he gets the call this year and does very well, or he gets called up late and is protectable in the 19th round as a prospect.
Another court is trying to decide whether Priceline.com's name-your-own-price business plan is protectable by patent.
(Such "ideas" etc. may be considered intellectual property which is protectable in other ways, e.g. they may be patentable).
Instead, Mark is looking for four things: The company's core competency, why you're great, how the idea is protectable and how it can scale.
But if you can build something that is protectable on the IP side as well, then you may just have a large liquidity event, too.
"Because it is not based on any notions of what is protectable under copyright law today," he said.
Not every idea is protectable under the law, and you should know exactly what you're trying to protect before you decide how to proceed.
That idea will not be protectable under the law, though you can certainly take steps to keep it secret from your competitors by not telling anyone about your plans.
"I think this thing falls through the cracks of being protectable," said Toni Tease, a patent lawyer in Billings, Mont.
