Idea for App and Visiting a VC

[Lawrence Barse]

Hi everyone,

last month I came up with an Idea for a Mobile Application. I shared this idea with my close friend to get his thoughts and opinions about the app. He liked the idea, and we've spent the last month brainstorming about the features of the app and what all features should go in the MVP version.

Recently, we've decided to partner with another friend who will provide all the support through his team of programmers to get the App right.

Yesterday we had a call together on how to proceed with this project. We decided the timelines, the capital that will be required and what we currently have etc. etc.

During this discussion, we thought that after 2 months of development, we go to a VC and ask for his help, not just financially, but also in terms of his knowledge and experience.

Now what concerns me is that, since this is an Idea and if we present it to the VC, and just maybe he feels like he should peruse this idea by himself...since he may have many contacts and ventures willing to work for him.

How can I possible protect this Idea and whatever we are developing??

 

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[Y.B.]

Why would you protect your idea or even need to? Right now, your idea is crap. It's worthless...as in, it has no value. I can also assure you the idea you have, if it hasn't been done yet, a dozen people have already had that same idea. Ideas in themselves are not worth any money and don't have any value. THAT IS WHY YOU CAN'T PATENT AN IDEA. No one cares about your idea, ESPECIALLY an investor.

Investors don't invest in ideas, they invest in people behind the ideas because the hardest part is seeing that idea through to fruition. That's where all the hard work and sweat goes. I've had the idea for ebay before it existed, but someone else actually did something with that idea.

 

[HardParked13]

Way too early for VC imo. If you don't have a tangible product and so many details in your plan of attack that you just blow the VC's mind you're not in an advantageous position. Prototype>Bootstrap>Iteration 1>Seed Funding>Iteration 2>VC>Iteration 3. Something along those lines.