We have all had that Eureka moment when we think we have thought of something new. Sometimes we think there may even be a viable business behind it. So how do you go about protecting that idea, particularly if it is so fundamental and integral to the success of your business model?

Ask yourself a few questions: Can I protect it so that my competitors cannot copy me? How practical is it to do so? How much will it cost me? Can I enforce it? Is it really that unique? Would I be better off just getting on and doing it?

To protect a business idea or model there are five key areas not all of which will be relevant to a particular business:

Law of confidence