Libertyblues Posted December 18, 2015 Posted December 18, 2015 I have this conflict of interest of revealing ideas without being able to profit from it. I have a few business ideas but no capital. To get capital I'd need to reveal the idea but last time my idea was just shrugged off..but the point is, I still strongly believe there's demand for this app idea I have..
shirgall Posted December 18, 2015 Posted December 18, 2015 I have this conflict of interest of revealing ideas without being able to profit from it. I have a few business ideas but no capital. To get capital I'd need to reveal the idea but last time my idea was just shrugged off..but the point is, I still strongly believe there's demand for this app idea I have.. This is why non-disclosure agreements exist. There's lots of templates out there, but the basic idea is that you and the other agree to not disclose clearly-identified secret information or penalties may happen. I am not a lawyer, but when making such agreements, try to find some way to have evidence that "consideration" went both ways in making such an agreement. This is why you make it a bilateral agreement: both parties agree to do something (or not do something). One-sided contracts are really hard to enforce.
BD91 Posted December 18, 2015 Posted December 18, 2015 To get capital you need to have a feasible business plan and a pitch to investors. Investors are interested in giving money to people to start business, not to take their ideas and start their own. Truth be told, if the first thing you say to somebody is "I've got this idea. But first, sign this legal document" they're likely going to walk away. Also, be aware of whom you're speaking with. If you're telling your idea to some random guy at a bar who claims to be an investor, then you should be a bit weary. But, if it's a someone you have even a basic relationship with, odds are they'll hear you out and are otherwise too occupied in their own affairs to take your idea and start & grow a business around it. So, basically, get a reasonable business development & marketing plan together; and learn to pitch. I recommend this book: http://www.amazon.com/gp/product/B004H4XL7E/ref=dp-kindle-redirect?ie=UTF8&btkr=1
VolT Posted December 18, 2015 Posted December 18, 2015 I was in that position for a couple of years, and that policy earned me nothing. So i decided to simply take the risk, I tell other people my ideas more freely but when i do so i allign their motivation with working with me in a business. Sometimes things dont work out the way you want, simply drop it and move on.There is a quote that i heard that shifted my position" 10% of something is greater than 100% of nothing."As a result of my new attitude i have 3 projects being developed at the same time, and my hopes are to give 5 projects per year the opportunity to see if they will succeed or fail.
Libertyblues Posted December 19, 2015 Author Posted December 19, 2015 Will check out the book! I've been thinking about this for a while. The only reason to hold back good ideas I could think of is because of rent seeking, in other words to get a first mover advantage. A lot of my ideas are easily copied, that's what concerns me. For example many of the Google services aren't very original..but Google has this great synergy between them..
Libertyblues Posted December 20, 2015 Author Posted December 20, 2015 I'm in need for further advice (until I get to read the book) I have a similar idea similar to how Starbucks, or whoever, invented the paper cup. How could I have profited from being the inventer of the paper cup?
jimmo100 Posted December 21, 2015 Posted December 21, 2015 What about using the blockchain as a way to datestamp your idea, with your name?The idea being similar to sending yourself a letter by registered post and not opening the letter when you receive it back... until the day you need to prove it was your idea.Hopefully - I've never tried it - the blockchain method would be more foolproof than the snail mail method. And more persuasive in the case someone alleged it was possible you used steam to open and reseal the envelope.
Libertyblues Posted December 22, 2015 Author Posted December 22, 2015 Thanks for the replies! The problem isn't so much whether to prove if it's my idea but getting a fair profit from it if it gets picked up. I believe many developers are intimidated by the dominant internet companies. If Google takes the developer's idea and just copies it and markets it over its platform the developer will have a lost investment..
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