The document discusses protecting ideas, innovation, and products. It defines ideation, innovation, and products. For ideation, it recommends documenting all communications, using non-disclosure agreements, building prototypes, and registering trademarks. For innovation, it advises categorizing and registering intellectual property like copyrights, trademarks, and patents. For products, it suggests having terms and conditions and service level agreements with users. The document also covers securing funding and the importance of intellectual property registrations and compliance with regulations.

1. Protecting your
Idea , Innovation
and Product
PresentedbyTosinAkinbode.EsqatTECHBIZseriesorganisedbyEkoInnovationCentre
Jan6,2022

2. Tosin Akinbode
Corporate and Tech Lawyer
About Me
Experience -12+ years combined In-house & Law Firm practice
Industry practice-Aviation, Real Estate, Accounting, Lifestyle/Entertainment, Social Impact,
Information Technology
Expert
• Navigating cross-border complexities of the law, compliance, and policies involving the sales of
software solutions and infrastructure, emerging technologies, and product delivery.
• Commercial Litigation
• Corporate Governance
Social Impact drive: Co-Founder, THR Media (Think Help Restore). Utilizes media and technology to
help women and girls break free, recover and advocate on GBV.
Education
• Called to the Nigerian Bar
• Masters Degree in International Commercial Law, Reading UK modules in Project finance/PPP,
Commercial law, Mergers and Acquisition, Internet law, Corporate governance, Corporate
Finance
• Licensed Chartered Company Secretary and Administrator, Nigeria

3. Presentation Topic
Protecting your Idea, Innovation, and Product
Objective
• Protecting your ideas, innovation, products - Know the What and How
• Understand how these fundamentals (ideas, innovation, products)impact the
Business strategy/model and Bottom Line (Profitability)

4. Table of Contents
IDEATION
INNOVATION
PRODUCT
SECURING FUNDING
1
2
3
4
Protect your
Assets

5. Definition
Source: Cambridge Dictionary
IDEATION - idea generation
INNOVATION -the development of new
products, designs, or ideas:
PRODUCT - something that is made to be sold,
usually something that is produced by an
industrial process

6. • What do you do?
Brainstorm, Sketching,
collaborative
sessions, user stories
1
The Fear
Idea Theft
Imitation
2
The Reality
This is the formulation stage.
Living in fear that your idea
will be stolen hinders
creativity, feedback, ability to
sell the unique selling point,
asking the right questions to
innovate with a strong focus
3
Steps to take
• Document all communications
• Have a Non-Disclosure Agreement or
Confidentiality statement on your
business plan (watermark document)
• Build a prototype and publish
• Register Trademark -slogan, symbol,
mark
4
when an idea comes to you to in a burst of inspiration? What do you do?
Ideation
Innovation without execution
is only Ideation
The Copyright Act does not offer
protection to ideas and concepts. The
protection extends to a detailed
expression of the idea.

7. Innovation
Trade secrets, patents, trademarks, industrial
designs, and copyright may separately or
simultaneously be used as tools of technology
protection.
What is Intellectual property
•Intellectual Property (IP), is the right to
restrain third parties from dealing with
goods, services or processes that evolve
from the creativity, inventiveness of
one’s intellect.
1 Categorize and Register your IP
Creativity is the bedrock of any society.
The Nigerian Government set up
parastatals to protect these assets
through registration
• Copyright
• Trademark
• Patents/Industrial designs
2
•
3
Steps to take
• Have a Non-Disclosure Agreement
(Mandatory) Example of Enforceability -See
case Aero contractors V. Mr. Akintayo
Akingbeyin suit no NICN/LA/123/2013
• Register Intellectual properties
• Have a Founders Agreement/ Register the
business enterprise
Innovation without execution is only Ideation
Innovation concerns the commercialization of new
ideas. An invention is not necessarily directly
associated with commercialization. An Invention is
the generation of a new idea aimed at solving a
specific technical problem. Innovation can be seen as
a process of interaction and feedback during the
various stages of product development.
Source: WIPO World Intellectual Property
Organisation

8. Registration of IP rights
Intellectually property rights are protected through the registration of rights with the relevant Regulatory bodies and Registry
established by the Nigerian Government, such as:
• Trademarks (Trade Marks Act (1967) Cap. (T13), Laws of the Federation of Nigeria, 2004.)
• Patent and Designs Registry
(Patents and Design Act (1990) Cap. (P2), Laws of the Federation of Nigeria, 2004)
• Copyright (Copyright Act C28 Laws of the Federal Republic of Nigeria 2004)
Other related offices are the National Office for Technology Acquisition and Promotion (NOTAP), the Standard Organization of
Nigeria(SON), and the National Agency for Food and Drug Administration and Control (NAFDAC). All these offices run their
independent registries and often interface in the discharge of their mandate.
Section 251 (1) (f) 1999 Constitution of the Federal Republic of Nigeria vests exclusive jurisdiction in the Federal High Court over
disputes relating to copyright, patent, trademarks and passing-off, industrial designs, and merchandise marks. In addition to its
original jurisdiction, the Federal High Court sits in appeal over the proceedings of the Tribunals established by the Trademarks
Act and the Patents and Designs Act. The Court of Appeal, and ultimately the Supreme Court, exercise appellate jurisdiction in
relation to matters emanating from the Federal High Court.

9. Product
Trade secrets, patents, trademarks, industrial
designs, and copyright may separately or
simultaneously be used as tools of technology
protection.
Regulatory concerns when preparing your
business model and strategy, you need to
navigate cross-border complexities of the
law, compliance, and policies.
• What regulatory permits are required.
• Data policy
•
1 Service Providers and Users
• Issue terms and conditions on the
website, platform/ products
• Have a Service Level Agreement
• As you innovate, keep up with your IP
registrations. Innovation is a repeated
process
2
•
3
Steps to take
• Have a Non-Disclosure Agreement
(Mandatory) Example of Enforceability -See
case Aero contractors V. Mr. Akintayo
Akingbeyin suit no NICN/LA/123/2013
• Register Intellectual properties
Innovation without execution is only Ideation
Taking a product to market is usually a big challenge
for inventors, entrepreneurs, and enterprises, hence
the concept of the innovation “valley of death”, which
runs from the time the invention has been prototyped
to the launching of the new product in the market.
Source: WIPO World Intellectual Property
Organisation

10. Secure Funding
Have an elaborate business plan
1 Explore financing options with the best
value proposition
• Family and Friends
• Crowdfunding
• Investors
• Private Equity
• Partnerships
• Bank loans
2
•
3
Steps to take
• Have a Non-Disclosure Agreement (Mandatory) for
Due diligence process and Investors
• Include non-poaching clauses for a period ( if
applicable-exposure of talents)
• Register Intellectual properties
• To make informed decisions, engage the services
of a team of accountants, financial analysts,
corporate and M& A transaction lawyers.
Innovation without execution is only Ideation
Before looking for more funds, it is crucial to evaluate
your initial costs. Looking for extra funding might not
be required if you maximize on the little you have.
Starting a business venture is no mean task as it
requires significant funding
Source: https://www.finsmes.com/
Real time VC & Private Equity Deals and News

11. Recap
•IP has been a major business driver
•Regulatory compliance by enterprises could result in a positive impact on quality of the
product and services that they generate. Non-compliance results in fines which impact
negatively on the bottom -line (profitability)

12. CONCLUSION