Protecting your idea, when seeking investors?

[Los5782]

Hey everyone, I'm new around here, 19 year old entrepreneur from Pennsylvania. I discovered this website when searching for "investors" on google, and I must say from what I seen so far this site seems fantastic ! Gives young hopefuls like myself some HOPE lol , and a sense of possible directions to go in. I think I have a GREAT, unique idea for a social networking site. I wanna pursue investors to discuss my idea with, and hopefully make them see my vision. What I wanna find out first though is, well I'm a little worried about throwing my ideas out there without having any type of security, thinking someone may run off with my idea & having there own funds, leave me behind in the dust. Is this something I SHOULD be concerned about? If so, what are some ways I can protect my idea?

[ironxage]

I would love to hear a reply to this also

[Younggun21]

Yes please me as well.

[GotLiveChat]

You're right in being concerned about protecting your idea. If you share this with others you should have them at least sign a contract (like NDA - non-disclosure agreement) to protect your idea. But keep in mind that if they did share your idea you'd need to spend the $$$ to sue 'em.
May want to keep the idea 'close to the vest' and try to get your idea developed in parts (so others couldn't determine the overall idea).
Hope that helped!

[CPiper01]

Yes - you would need them to sign a NDA before telling them anything, but even then it is still a grey area. The fact is, unless you already have the social network up and in beta, I'd be impressed if you found any investors that would talk to you and take your serious enough to sign a NDA first. Investors should be way down the list of people you need to talk to first, find a solid team, internet programmers and GUI artists first. Good luck!

[webspider]

Hello Friends,
There are likely to be many occasions when you will need to win over people's interest in your business idea - particularly when you are seeking finance. I've met hundreds of would-be entrepreneurs attempting to secure funding from me, including those intrepid enough to step into the Dragons' Den. Here's a list of hint and tips to help you make a big impact.
Thanks

California real estate lawyer
California chapter 7 & 13 bankruptcy lawyer

[FattyCakesMcGee]

I love this idea A LOT. I posted on here and Did not go into detail because I was being dead serious, I barely pitched part of the idea to someone and they thought it was genius. I just need the funds to put it in motion.

You're right in being concerned about protecting your idea. If you share this with others you should have them at least sign a contract (like NDA - non-disclosure agreement) to protect your idea. But keep in mind that if they did share your idea you'd need to spend the $$$ to sue 'em.
May want to keep the idea 'close to the vest' and try to get your idea developed in parts (so others couldn't determine the overall idea).
Hope that helped!

[marykabrown]

As legal terms, you have to sign a NDA. Otherwise, you will be in trouble.





Legal transcription

[marykabrown]

Hello,


You should sign a NDA. Even I had worst experience like this


Legal transcription

[Walter12]

Thanks for giving this advise.