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Innovation Network [This Network is not currently active and cannot accept new posts] | | Topics
Looking for Private Investors and Venture Capitalists for my productViews: 79
Jan 01, 2010 4:34 pm re: re: re: Looking for Private Investors and Venture Capitalists for my product

Scott Wolpow
My father simply never told them. I know how it is done. It was not worth trying to get a patent, because once you do that, everyone will know how it is done. Also it may not be patentable.

John is talking about a poor mans copyright. That would only prove prior knowledge.

If you read a NDA it will state the parties are protected if they have prior knowledge or if a third party has the same knowledge.

For example I was just asked to sign a NDA, which I did. After they showed me their 'unique' concept, I then showed them two other projects that were identical. One of which I was working on for a few years in the conceptual stage.

A VC has no interest in stealing your idea. If they do they will swiftly be branded as untrustworthy. They want you to succeed. That being said, what has happened is that sometimes your idea winds up benefiting another investment they have.

Sadly there is not much you can do. If you are seeking VC funds, that means you do not have much money and can not afford a court case.

Back in '95 I was working on a number of projects in the collectible market. We had an option on Star Trek postage stamps. One company had almsot all the contracts with the countries taht issue these stamps. You have seen them, like the early Elvis stamps.

We talked and they told us they were not interested. Since we did not have the budget to fly down to countries and wine and dine [and give gifts] to the peopel in charge, we adandoned the idea.

A few months later, the same company released the stamps. They were a huge failure. The reason: They used stock photos that Paramount gave them. What they did not know, nor have access to, were thousands of photos taken during production. These photos could not be used without Paramount's permission in any commerial use or in publicity.

However, one part did allow it to be used for business involving municipal entities. The clause was designed to allow the parties to do location shooting.

We knew the holder of all the images and had options on all of them.

Raj, I suggest you first verify who you are dealing with. Are they a VC or are they people who introduce people to VC.

In your case I would present it as a method to better produce something or if it is unique that is what is special. The process is not material since teehir money will be contingent on it. You could have them put the money in escrow or verify they do have the caputal needed.

I know various people who may help you. I see you are in health Sciences, is it along that field. If it is a btter process for a mature system, I may have a company that will buy it outright.

Private Reply to Scott Wolpow (new win)





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