Intellectual Property Law
Intellectual Property Law Questions? Ask a Lawyer
On the intellectual property question, the investors (group) say they won't sign an NDA because they get to many proposals to have time to sign an NDA for each and every one. They say they have a reputation that I should rely on to not to disclose my IP, and to tell them what my idea (IP) is without an NDA. They also want 10X the investment amount for the redemption option. Does this sound normal to you?
Thank you, Kirk, and sorry for bothering you on a Sunday. So I guess I'm stuck in not knowing if I can trust them, and insulting them by insisting on an NDA. It sounds like they feel they are above signing NDA's in place of trusting their professionalism. I don't want to alienate myself by pissing them off, so what can I do?
Thank you again, Kirk, that is good idea to ask them to compromise by using their own NDA. It's interesting that maybe they are watching too much Shark Tank. I read their submittal form for being a contestant on the shoe, and nowhere is an NDA form required, and they say everything is at your own risk. But I guess it would be a public relations nightmare for the Sharks to go behind the backs of the presenters, so everything is out in the open. If this project of mine gets funded somehow, I know I'm going to have a need for your expertise again. Thanks. Joe
Oh, I forgot to find out if you think 10X the investment amount they want in return is way high, or somewhere in the normal range. I thought that 3X the investment amount was normal. They don't know how much I'm asking for yet, but that should be negotiable right? I'm asking for $1M in exchange for 30%.