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How can I ask an investor for money without revealing my idea so he can't steal it? |
I have a great idea for a website which I think will make lots of money. I need some investment to employ a couple of people as I don't have all the skills necessary to develop it myself. I am worried that if I go and ask someone then they will steal my idea and go develop it themselves as it is a fairly simple plan. Is there anyway to protect my idea or do I just have to bite the bullet, tell them, and hope they won't steal it. Once I have the employees, I am also worried that I will be no longer needed having come up with the idea - how do you think I should protect myself and my position? You need to have this person sign a confidentiality agreement or an non-disclosure agreement. These are standard business agreements. This person will more than likely be familiar with documents like these and be happy to sign them. There are plenty of generic ones on the net that you can adapt to your needs. credit cards, or take loan on a car or house or ask parents or friends for help Have him sign a non-disclosure agreement before you actually present anything. If he steals your ideas, he is in breach of the agreement and you can sue him. First step is to work out a total business plan for your website. During the planing of it, you will deal with No Disclosure agreements and such things. Use a confidentiality agreement CA The other posts are correct. You can self finance or you can have any investor sign a Nondisclosure agreement (or Confidentiality agreement) prior to your revealing any information. Consult an attorney for the agreement. I agree with max b |
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