Hi, i have been working hard on a personal project / website for the last year now. The development of the site is close to completion and i have 2 separate meetings scheduled within the next few weeks:
Meeting 1 = meeting with an Ajax Developer to complete a few small functions on the site
Meeting 2 = meeting with a potential investor
As you can imagine, the full scope of my project will be revealed at these meetings. Is there a document that i can put together that i can get the programmer and investor to sign which prohibits them from "stealing" my idea etc...
I am not even sure what terminology to use while searching on google. Any help on this matter would be greatly appreciated.
It's called a non-disclosure agreement or NDA for short.
Originally Posted by E-Oreo
If your product is finished - the investor isn't going to steal your idea - why would they want to spend even more capital writing it again?
NDA's are good, but most investors won't even bother with them. They want to make money without doing any work.
The developer on the other hand - I would keep him on a very short leash and only give access to EXACTLY what you want fixed.
Originally Posted by FlyingBeetroot
Flying has it right. You can never be too careful I think. Congrats on making it this far with your project! Hard work pays off.
July 22nd, 2012, 05:47 PM
I would never ask an investor to sign an NDA it's a huge red flag for them that you're grasping for straws. Ideas are a dime a dozen... the value should be in the way you personally execute your venture. If you're so locked to this one idea then it shouldn't matter if someone steals it because you will do it better than them. Focus more on your differentiators and what you can do better than anyone. I've listened to a lot of pitches and you can always tell within 10 seconds if the [startup] is legit or a bunch of idiots chasing fools gold... also avoid buzz words those are quick to put an investor to sleep. You can't impress them if they've stopped listening.
July 23rd, 2012, 04:05 AM
Hi, thanks for your input
November 29th, 2012, 07:00 AM
NDA can be signed but still chances remain that they will modify Your idea a little and then present it at some point. If possible disclose only a bit of the plan.
December 10th, 2012, 06:56 PM
In my Jurisdiction (EU) you could do the following: make sure your idea is worked out on paper. Go to a Tax-office and let them put a date stamp on each page (you can't protect ideas, but you can protect worked out ideas). Yep that man at the door that has nothing to do all day, but has a stamp. It's free! The moment you see people you used to work with use this, You can Show this document to court. Furthermore you let them sign a non disclosure document with some awesome penalty clause.
Last edited by aeternus; December 10th, 2012 at 06:58 PM.