Hi guys/gals,
Up until recently I was actually concerned about looking for business partners to work with. I had some ideas that I felt were, and still are to some extent, really good potential money makers. Whilst researching NDA's (Non-disclosure agreements) I came across a fantastic article explaining how they are, essentially, worthless and unenforceable. I can't find a link to the exact article so i'll summarise here for you.
Picture the scene; you've come up with this fantastic idea that you think can make a lot of money. The problem is you need investors, or developers and designers to help you, but you're worried they'll somehow run off with your idea and make millions off it and leave you for dust trying to find change in the back of the sofa. What do you do? You could ask them to sign an NDA and keep the idea confidential, but this actually causes more harm than good.
In several interviews with head honchos of companies who provide funding to smaller projects, most of these people say that NDA's actually put them off investing. It's a matter of trust. If you can't trust them to listen to your concept fully and no holds barred, how can you expect a potential investor to trust you with their money? It's a 2 way situation. You need them as much as they need you, so just cut straight to the idea. Yes, there's a chance they will take aspects of your idea and potentially use them in other projects, but here's why you don't have to worry.
Unless you have absolutely amazing communication skills, and let's face it - most of us don't, nobody will understand your ideas better than yourself. Nobody will ever have the passion or desire to work and focus on your project than you, the project 'inventor'. Anyone else will simply be in it for financial gain, and thus they suffer and instant disadvantage.
Asking for an NDA to be signed also shows that you somehow arrogantly think that your idea is unique and has never been done before. In most cases this is simply not true. Pretty much ANYTHING you can think of has already been done in one way or another. Your idea is probably a variation of other ideas and projects, and perhaps you're just expanding on the downfalls of those and somehow making them a little better. Your idea is not unique, it's not revolutionary and it's not going to change the world. Your idea is not worth a billion dollars/pounds/yen/insert your currency here.
Also consider this. Once you've developed your idea, what's to stop anyone copying it once it's gone public? Pretty much nothing. Unless you somehow manage to obtain a patent and copyright on it, you're just prolonging the inevitable.
When it comes to the development of ideas, EXECUTION is the key. To start a company, a business or a large scale project requires approximately 5% invention and creation, and 95% execution. Your idea could be the most fantastic idea in the world, but without the right approach it's absolutely meaningless. Without the right approach it probably won't work.
So next time you're worried about disclosing your ideas, think again. Focus on planning and how you can make it work smoothly instead of worrying about the minor details.
Up until recently I was actually concerned about looking for business partners to work with. I had some ideas that I felt were, and still are to some extent, really good potential money makers. Whilst researching NDA's (Non-disclosure agreements) I came across a fantastic article explaining how they are, essentially, worthless and unenforceable. I can't find a link to the exact article so i'll summarise here for you.
Picture the scene; you've come up with this fantastic idea that you think can make a lot of money. The problem is you need investors, or developers and designers to help you, but you're worried they'll somehow run off with your idea and make millions off it and leave you for dust trying to find change in the back of the sofa. What do you do? You could ask them to sign an NDA and keep the idea confidential, but this actually causes more harm than good.
In several interviews with head honchos of companies who provide funding to smaller projects, most of these people say that NDA's actually put them off investing. It's a matter of trust. If you can't trust them to listen to your concept fully and no holds barred, how can you expect a potential investor to trust you with their money? It's a 2 way situation. You need them as much as they need you, so just cut straight to the idea. Yes, there's a chance they will take aspects of your idea and potentially use them in other projects, but here's why you don't have to worry.
Unless you have absolutely amazing communication skills, and let's face it - most of us don't, nobody will understand your ideas better than yourself. Nobody will ever have the passion or desire to work and focus on your project than you, the project 'inventor'. Anyone else will simply be in it for financial gain, and thus they suffer and instant disadvantage.
Asking for an NDA to be signed also shows that you somehow arrogantly think that your idea is unique and has never been done before. In most cases this is simply not true. Pretty much ANYTHING you can think of has already been done in one way or another. Your idea is probably a variation of other ideas and projects, and perhaps you're just expanding on the downfalls of those and somehow making them a little better. Your idea is not unique, it's not revolutionary and it's not going to change the world. Your idea is not worth a billion dollars/pounds/yen/insert your currency here.
Also consider this. Once you've developed your idea, what's to stop anyone copying it once it's gone public? Pretty much nothing. Unless you somehow manage to obtain a patent and copyright on it, you're just prolonging the inevitable.
When it comes to the development of ideas, EXECUTION is the key. To start a company, a business or a large scale project requires approximately 5% invention and creation, and 95% execution. Your idea could be the most fantastic idea in the world, but without the right approach it's absolutely meaningless. Without the right approach it probably won't work.
So next time you're worried about disclosing your ideas, think again. Focus on planning and how you can make it work smoothly instead of worrying about the minor details.
Trust comes along with how you present your business idea, what materials or efforts you will be bringing to the table among other things such as a true business plan, forcast of revenue, highs, lows, you name it. 
