Essential risk management: tips for protecting agribusiness ideas

Being first with a new product is often the key to generating or maintaining market share. For many agribusinesses this will involve introducing some new product or process to the market that none of their competitors can match. To do this requires businesses to protect their intellectual property in these ideas until they are ready to be released to the market. This requires consideration of risk management strategies. Arguably one of the most important focuses should be the protection of confidential information.

Imagine you are in the business of selling agricultural products or processes. Part of your business involves being ahead of your game, a leader in bringing new processes or products to the market. You employ a key person whose job it is to find and develop new opportunities. The key person is a team of one and largely runs his/her own show.