Question
What kind of safety mechanisms are there for software developers regarding Intellectual Property in their software and code before pitching to investors/incubators? There are stories where a business angel showed interest in a startup after a pitch, got all the confidential documentation and product information, and in the end used it with another company. So, as a developer with a code base, business plan and some initial customer feedback, what kind of strategy is there to protect my IP during fundraising?
Answers: 1 public & 1 private
Software/hardware functionality may be protectable under patent and the source code itself protectable (in thin fashion) under copyright. “Pitches” may or may NOT involve the disclosure of truly-proprietary functionality (e.g., the “how” of what you’re accomplishing) and your engagement with prospective investors may be staggered wherein one will reasonably be required to execute a NDA, mutualized or otherwise, to get information about your systems beyond bullet points. Obviously, you will want to be wary of and/or avoid an “investor” who demands full disclosure and refuses to incur any associated obligations.
It may be advisable to file a provisional patent application for your technology and file an application for copyright registration for your code and pitch deck(s); the filing fees for both efforts are generally low. The copyright registration application process is very straightforward, though you should seek assistance with preparing and filing a provisional application.
Beyond these federal filings, you will want to be engaging investors – and other third-parties – in protectable fashion, and that usually involves non-disclosure agreements of varying breadth. There are many examples of NDAs online, but again it is worth consulting IP counsel to create one specific to your disclosures and goals.
Recent questions
I sometimes see questions on forums like Quora about how to stop people stealing your invention i...
4 5386 2I am looking for useful sources on protecting copyright. I am in the process of writing a book ba...
3 6114 2What is the current wisdom on compiling news feeds on a third party website so far as copyright i...
1 3962 0This might be a silly question but I’m a bit confused by ‘prior disclosure’ as it applies to pate...
2 4823 1Do you have a question about your invention or intellectual property?
Search the questions below or post your enquiry to one of our experts via Directory.
(User questions are no longer posted publicly on this page.)