Insights on Robert Kiyosaki’s Guide to Investing – Chapter 35

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I am very thankful this past few days, a lot of events is about to come but the most important one would be Christmas time and I am running short of time. There were still a few chapters left from the book that I haven’t read again for all of you. I also have random ideas to write on for to follow-up on this very good book but nothing’s still certain. Oh! The holiday feels, how could I get by this?

Going on Chapter 35 with the title “Legal Management”, it discusses another important building block of the B-I triangle. Being able to manage the legal affairs of the business, finances could follow. The saying that “it takes an idea to be rich” specifically applies to this building block. Having a good and profitable business idea without having the knowledge and guidance by a legal counsel would definitely of no use.

A lot of people have a lot of ideas but what separates the rich from the poor and the middle class is that the rich can buy ideas and make use of such ideas for their benefit. Throughout my life, I have seen a lot potential businesses that fail because they failed to own and secure the idea they had thought of. They never seek legal assistance to have their idea patented or copyrighted, the ending, some rich fella will buy the idea and do the legal work to claim it, after some time, those who thought of idea would regret everything. Because all they can do is to watch their dreams come true ~ the growth, the attention, the earnings ~ of the idea that they have thought of. The lonelier part is that they cannot proceed in starting over again with the same idea because the idea has been registered as an intellectual property of the buyer.

There were some who were aware of the fact that they needed to register such an idea to the intellectual property rights but failed to do so because of financial constraints. All I can wish for those people is for them to generate another good idea that can make them rich and eventually the next time, they know how to protect their idea.

A lot of business ideas has been generated by business-minded people everyday but they failed to capitalize on the idea because they never seek legal assistance or whatsoever that could preserve their claim to the idea. In this world where everything seems to be so fast, one must learn to protect his own idea before someone else get the benefits of the idea in a blink. Thus, if you have an idea that you thought would be profitable in the future, never fail to seek legal assistance.

NOTE: IF YOU MISSED THE EARLIER CHAPTERS HERE ARE THE LINKS:
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