Business Plans

If I submitted my site through a business plan to angel investors, do I have patented my idea beforehand?

Some of my friends and I are in the works of social networking Web site facebook.com is geaerd as to a small local audience. However, we have created a unique method and effective advertising and find our system is unique. As we will be looking for Angel Investors, we propose and show the entire site into a business proposal and wondered what is the correct process to do this? Should I patent this idea before putting the word out on everything? How much does it cost to patent cost, and what to change approval? I think we are strapped for money. As we have already invested in a high quality server for our business, may not even be able to get a patent out if the process is expensive. However, this step is necessary or just a step recommended? The links, suggestions or comments are greatly appreciated. Sincerely, Danny

Danny, you do not patent their business idea (or technology or algorithms) in order to present the VC or Angels. Actually do not have to patent everything, even once it is ready to continue. A confidentiality agreement will not suffice. Here's a link to a free CND: www.score.org / downloads / NonDisclosureAgreement.pdf. The patent is one ounce protection against theft of your unique technology or business model, or a new application of existing technology. Many companies, namely Coca-Cola, patents give up completely because the application requires them to reveal their recipe for competitors who can read your patent application. That's just one problem with patents. Here are some others: Can be expensive if you use a patent attorney (which most people recommend), because they can take a long time (you have to seek patent database to make sure that your idea or technology or model or execution is in fact the novel, and it is possible that someone has a very similar patent or application SIC patent it, then you will have to duke out to prove that theirs is the novel, comes first. Finally, there are many scams out there trying to you use their services to an extravagant cost. Here is the list price of U.S. patents: http://www.uspto.gov/web/offices/ac/qs/ope/fee2006october14.htm Well here's the last bit. You did not ask, but I thought I'd tell you anyway. Sounds like you're in the early seed stage (you have a product or at least a prototype, but you have no customers and no revenue.) Seed stage financing is more difficult to land because (1) Find the angels can be like herding cats because not all belong to these associations organized little Angel, (2) Get to present can be difficult because the tone and presentation must survive preliminary due diligence in order to present their bid against the largest group of Angel, (3) Everyone and their brother is launching the next YouTube, MySpace site, so it will be hard to excel. Here are a couple of links you can visit: Keiretsu Forum (full disclosure: I am a member of this group): Http://www.k4forum.com/apply/index.html MoneyTree Report (List of venture capital firms, database information CV): http://www.pwcmoneytree.com/moneytree/nav. jsp? page = [Company you may have to register but is free] Bottom line: Spend the patent unless a property has incredible new technology that will the Internet world by storm. Go with the NDA (but not go overboard because some angels is insulting that you have come to ask for money, but not trust them). Hope this helps, careersthatdontsuck.com Spring4th

Angel Investor Funding

The Most Successful Small Business in The World: The Ten Principles $13.87 “Gerber’s books never disappoint. These Ten Principles help you dig in to create newer, bigger ideas during our deeply troubled times, ultimately producing a great renewal—of mind, of body, of spirit, and leading to a new operating system where anything is possible and growth is built into the culture.” —Stephen M. R. Covey, author of the New York Times and#1 Wall Street Journal bestseller …

Entrepreneur’s Notebook: Practical Advice for Starting a New Business Venture $9.97 Entrepreneur’s Notebook propels you on a whirlwind tour of the start-up process. It is an invaluable reference for new and experienced entrepreneurs that includes chapters on a wide range of topics, from entrepreneurial team building to business plans to financing. This excellent book provides an incredible amount of practical information that will help you make smarter decisions and avoid costly …

Angels step in where VCs fear to tread: as funding climate get tougher, investors get picker. (Biotech).(The San Diego Tech Coast Angels plans to invest … An article from: San Diego Business Journal $5.95 This digital document is an article from San Diego Business Journal, published by CBJ, L.P. on April 7, 2003. The length of the article is 795 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Angels…