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- 19.09.2024
If you have a great idea for a web or mobile app, one of the
first steps in getting that app developed will be reaching out to potential
investors.
The process of you showcasing your app idea to potential investors though, can be quite a grey area as far as intellectual property rights go, if you’re under-prepared.
Firstly, you will need to reach out to the potential
investor(s) and hope to get a response.
Once communications have commenced, you can arrange a
meeting with the potential investor(s) to properly discuss and showcase your
web or mobile app idea.
Then, you will have the meeting. Showcase your app idea to
the very best of your potential and hope that the potential investor(s) is on
board.
If all goes well, you will now have an app idea and investors to back it, however, there is also the possibility that they may not wish to work with you, which isn’t the best outcome, but things can become much worse if they still really like your idea and you’ve not protected it.
As far as UK law goes, you can protect
your app idea from being stolen by registering it as either a trademark,
patent, copyright or registered design.
This can make things rather difficult
for some people though, as many aren’t willing to invest the money needed to
register a product before that product has investors to back it.
This is where non-disclosure agreements come into play.
Simply put, a non-disclosure agreement is a contract that is agreed
upon by both parties, i.e. you, the person with the app idea, and the potential
app investor(s).
The non-disclosure agreement will outline what both parties can
and cannot do with the information gained during your meeting.
Using an NDA (non-disclosure agreement), you can ensure that the
potential investor(s) only uses your information for the purpose of
consideration of investment with you.
This is by far the simplest route to take when protecting your app idea against potential thieves.
There are a few tips and tricks that can help greatly when showcasing a
new app idea. Below are a few tips regarding protecting your app idea:
Not only will your presentation be much more tailored and of higher quality if you know who you’re talking to, but you also get to gauge how much you can trust them.
I.e. you can tell them what a feature of your app does, but if they don’t ask how, don’t tell. The less technical details they know, the less they can steal.
Showcase your app to your friends and associates when it’s live, it’s much cooler that way anyway.
If you’ve got an app idea that you’d like to discuss, or for any of our other key services, get in touch and speak to one of our expert UK based development team members.
We’re always happy to discuss new projects, whether big or small.
You can get in touch via phone, email, or by using the contact form on our contact page.