Project financing is a stumbling block and one of the main obstacles facing innovators / inventors / owners of new or existing projects that wish to grow. This problem is the most important obstacle facing entrepreneurs in the third world countries in general and the Arab region in particular.
And to solve this problem, a new type of funding appeared at the present time with the spread of the Internet, called community funding or crowd funding, and the term in English is Crowd funding.
This type of funding depends on the participation or donation of community members in financing a project proposed by one of the trusted sites. This type of funding is known according to Wikipedia as follows:
It is the collective and cooperative process, based on trust and a network of relationships between individuals who raise funds and other resources together, often via the Internet with the aim of supporting efforts made by individuals or other organizations. The crowdfunding process is carried out with the aim of supporting many goals, including, for example, disaster relief operations, street journalism, support for artists who need support from fans, support for election campaigns, funding for startups, films, small and micro projects, or the creation of free programs.
Intellectual property and crowdfunding sites ::
One of the obstacles for the owners of innovations and inventions to participate in crowdfunding sites is their fear of stealing their ideas, so eiipo advises everyone who has an idea or invention to register his idea with the Patent and Innovation Office and if the idea is a new industrial use, there is a trademark registration office Commercial and industrial models, so that you have protected your idea / innovation / invention, and then you can present your idea / invention on crowdfunding sites and you are reassured. If God forbid someone stole your idea, you can sue him and you are reassured because your invention registration documents prove your ownership of the invention
Advantages and disadvantages of crowdfunding
Advantages :: Provides financing to the owners of ideas and projects that do not attract the attention of major investors - Provides customers / clients for the product to be produced - Find volunteer marketers who are willing to market your idea in the vicinity of their relationships, these marketers are the investors or donors for the project.
Disadvantages :: early detection of the innovation / invention and the concomitant risk of exposing the idea to theft, modification and development in a way that affects the demand for the idea.