View Full Version : Disclosing business idea
29-01-2003, 01:12 PM
I was wondering how individual feels when they have to disclose their business idea to others in return of some advice; ie. marketing notes, sales letter etc.... Do you disclose all or try to establish contact first of all?
29-01-2003, 02:44 PM
I feel fine about telling people about my ideas. Very often, telling someone your idea is not enough for them to copy it. The idea in itself would never make a business plan, because you need all the reaserch, planning, contacts etc....
Often other people see problems with your idea that you had never though about.
I think in order to get advice, you need to trust people, and at the same time only give them the information they need in order to help you. If you have a specific question, you can usually get an answer without handing over a copy of your business plan!
29-01-2003, 02:53 PM
I always disclose information after they've signed an NDA (Non-Disclosure Agreement).
Most honest people are open to signing them, even friends. If they don't want to sign it and won't give a reason for doing so you have to question their integrity towards you and your idea.
I have a sample NDA I use, let me know if you want a copy and I'll forward it on, feel free to ammend, append and use.
I agree with David an NDA is clearly the best option if anyone needs a copy of my nda just email me and ill forward it on.
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