Question
Hi everyone,
In our web application users can add their ideas to a database that we make available for potential, manually verified investors to browse. Does a general (printed, signed, scanned and emailed) ND agreement between us (the facilitator) and the verified investor (that forbids the share or use of any of the ideas / IPs listed in our database without the consent of its enlisting owner), serves as a strong enough protection, should litigation be necessary in the future, or if not, what other protective steps should / could we take. Thanks!
Answers: 2 public & 0 private
As has been mentioned, protection of ideas is a difficult area, and often litigation is going to be an expensive way of enforcing your rights, particularly if you are dealing with people located overseas. Generally though, having an appropriately drafted NDA is a great first step. The important part, though, is doing your due diligence on your investors. Do you really know who they are? How would you sue them if you had to? Let me know if you need advice!
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