Angels Den does its best to protect your confidentiality and that of the Angel until you are both ready to talk to each other. We ensure Angels can only view your idea on the site if they have signed up to our confidentiality clause, and they have certified as High Net Worth or Sophisticated investors. Similarly you don’t get to see the Angel’s contact details until they want you to, to stop people bombarding them with unsolicited emails.
If an Angel breaches our Terms this is fraud and a criminal offence which is more serious in law than simply breaching an NDA you may have with them, which requires you to prove actual financial loss. Also we keep an online audit trail of who has viewed what and when.
You can also play your part in protecting confidentiality before you talk to Angels, accountants, PR companies and the myriad of people you’ll need to contact to research and promote your idea to before you launch. It’s a good idea to protect your Intellectual Property as soon as practical. Once you’ve applied for a trademark or patent anyone else coming up with the idea or name is behind you in the queue, so get the application started sooner rather than later.
If you have a patentable product or process but have not yet applied for a patent please don't disclose the heart of it (the bit that forms that patent) to us or anyone. Apply for the patent first or talk about the product or process and what it does without saying how it does it.
If it’s really true that all you have is a completely novel idea that is very easy to copy but can't be protected you should rightly be cautious and enter only the minimum details on the site. However in these circumstances it is going to be harder to get investments – an idea is not a business. Angels usually rank the management team and their ability to implement the idea as the most important aspect of an investment decision. They will rightly be concerned about concepts that are very easy to copy and how their investment will be protected. So make sure you convey the strength of the other areas that you can talk about.
If you have any questions on the above, please get in touch.
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