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high-level description

dhanrajdhanraj subscriber Posts: 2
edited September 2006 in Business Planning
I am talking to a large company about a business idea and they have asked about a high-level description for the product. I am not sure how much information I should reveal to them without a signed non-disclose.
i would appreciate any help with this.
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Comments

  • LynnLynn subscriber Posts: 0
    I wouldn`t share the idea with anyone without a signed non-disclosure agreement (NDA).  As the president of a company that develops custom software applications, I frequently spoke with many people who had unique ideas for new software.  Most of those people people requested that I sign an NDA before they spoke with me, and I never had a problem with that.  It only takes a couple minutes to read and sign an NDA, and it`s their idea, after all, so by signing an NDA I`m just agreeing to be ethical. 
    You will be responsible for supplying the NDA, of course. If you don`t already have one, there are many basic NDA`s available for free on the internet, so you should easily be able to find one that suits your needs.  Make sure your NDA contains exclusions for information the business already has, as well as for ideas in the public domain.
    If the business you`re thinking of talking to balks at the idea of signing an NDA, I recommend you move on and look for another interested party who will commit in writing not to steal your idea.
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  • dhanrajdhanraj subscriber Posts: 2
    I do have a NDA and will insist they sign it. Thank you for the advice.
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