As a developer, I never sign NDAs when someone approaches me with an idea.<p>I'm trying to approach a potential advisor/investor with a business plan who happens to have founded a company that is pretty much a competitor. But our business plan is a much better solution. Should I ask him to sign an NDA? He has the required infrastructure, which could take us at least 6 months to build, so approaching him without an NDA is a little risky.<p>Any advice on what to do?
Just a question... but why would you want a competitor to be your advisor? NDA for sure in this case.<p>Bringing him on board on as an investor, albeit that he is also as a competitor, creates a different relationship. If it is an investment arrangement then there is much to consider.<p>Best solution would probably be to discuss your business plan (and share any corresponding documents) which does not include overly-in-depth specs, proprietary code/algos, or aspects that differentiates your startup (that he could recreate with his current company, team, technology, etc.).<p>Inevitably, as the relationship progresses and becomes better defined, I would highly recommend some form of NDA/Noncompete (i.e., whether he takes on the role as either and adviser or investor).
FWIW:<p>1- No investor will sign an NDA on your pitch.<p>2- Its not just about Idea. You are a developer with an idea, go build it! and share it to the world.