Investor stole business idea - what do I do next?

by okaybutwhyfam. Posted on Sep 13, 2020    2    11


So I was speaking with an investor who has their own company/HR product. Today I found out they pivoted to my market and now are implementing my solution. The idea I had discussed with this person and they copied much of my website and landing page stuff for their own purpose. I know it’s common that this shit happens but what can I do to deal with it?


Comments

texanrocketflame 1

Maybe you should have executed instead of talking about it? Ideas are plentiful and worthless at the end of the day.

TrendNowapp 1

I imagine they only shared this because they needed an investor to launch

mczarnek 1

Maybe write up a medium blog post sharing your story and telling people who the investor is and what the stolen idea is and share with journalists? When people search for that investor or stolen company, they'll end up with articles that point them toward your product?

best_topology 1

You can pivot to their market to counter this.

So have they invested in your company?

mrbillismadeofclay 1

NDA?

Henry8382

Think meant to write NADA

mrbillismadeofclay 1

NDA = non disclosure agreement.

cs_k_ 2

What's a NADA?

AnonJian 5

Can't speak for that commenter but nada is spanish for nothing.

Non Disclosures aren't usually signed by most competent investors. You find pretty quickly these are used to keep information out, such as a proper market test.

I usually put it this way. Yeti is suing Walmart for a second time for knockoff. Amazon is alleged to be knocking off the best selling products of investors. They do this because they will not put up with stealing unproven ideas.

There are a lot of reasons this may have happened. And you can always try the Non Disclosure anyway and see who bites. There is no reason not to do this idea and use the story to get funding from someone else. Articulated properly this may get you crowd funding when you may not have had a snowball's chance in hell.

Your mission, should you choose to accept it, is to be a dogged competitor of this thief. Get close to the customer. Pick the original idea apart. Rebuild it as a competitive threat -- exploiting weaknesses.

Two or five or twenty of you in a market space is not a problem. It is the day-in, day-out competitive reality of tens of thousands of industry types. Welcome to business. Day one.

RMJoey 3

"What in your deck is really that confidential after all?
You’ve got bigger problems than an investor stealing your idea if someone can successfully start a business by reading your slide deck. That means your company has little to no barrier to entry.
Just assume that everything in your slide deck is going to be shared. And then make whatever adjustments you want to make.
You can be paranoid like John and be so afraid of investors that you will cost yourself potential investors. Or you can just accept it as the cost of doing business."

PrimaryWarning 4

Make your idea better than theirs and crush the competition.