Innovation, collaboration and knowledge sharing

I have an innovative idea that I want to put onto the market, but I still have to develop the idea into a product.
I know a few companies that have the knowledge I am looking for.
What is the best option to handle this?

• Should I give them a share of the profit, or should I hire them? (I expect hiring will be very expensive)
• What terms should be in the contract of the collaboration?
• Is there any free software available that supports both knowledge- and document sharing? (like Microsoft SharePoint)

Start by talking with them and gauging interest. Just because you think it is a great idea does not mean they will want to invest time and resources into your idea. How much equity and/or cash they will want to develop your idea will depend on their level of interest.

Terms of the contract can be determined when you have more information.

Google Apps includes a knowledge management solution (wiki) and Google docs, both of which work well for sharing information. (http://www.google.com/apps/intl/en/business/index.html )

~harris