I had an idea for a start up web site and want to look for some v.c how do I make sure they dont take my idea and run with it?
1 Answer from Attorneys
Depending on the content and nature of the website, there are several options for protecting your idea.
1) If your website provides a novel and non-obvious process/system, you may be able to file for one or more provisional patent applications prior to discussing the project with VCs.
2) If the main thrust of your website is content that is original to you and the content creates the value, you may copyright your content.
3) You can ask that the VC sign an non-disclosure agreement with an appropriate non-compete clause. This will require the VC not to disclose any confidential information you provide them and to not compete against you or your company, both directly and through the development of/investment in a company in the same field.
This is a brief example of a few of the major ways to protect your idea. There may be more, depending on the specifics of your idea and website.
James Michael Smedley, Esq.
The Sigma Law Group LLC
DISCLAIMER: The answer provided is for general informational purposes only. There is no attorney client privilege or confidentiality between you and the responding attorney. The answer is not legal advice and may change based on specific information and details not included in the original posting. Please speak to an attorney to discuss your particular legal need.
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