If you don't have money to protect the idea legally speaking, you'd just be giving your idea away to a richer person by doing this.
Comment on How is it possible to start a business if you have no money and skills, but have an idea?
jordanlund@lemmy.world 5 months ago
- Make a business plan.
- Take the business plan to people who DO have the money and get them to buy in.
ElleChaise@kbin.social 5 months ago
Adulated_Aspersion@lemmy.world 5 months ago
Poor Man’s Copyright.
RegalPotoo@lemmy.world 5 months ago
Caveat: depending on if you are getting a loan from a financial institution or taking private investment, they will either want collateral (if the business fails, we will sell your house to cover the debt) or will want a pretty big chunk of the equity (we’ll take the risk that the business fails as we loose all our money, but in return we want to own 50+% of the business, have the final say on decisions, and take a good chunk of the profit if you are successful)
Delphia@lemmy.world 5 months ago
Unless its a low enough number that the bank would accept an unsecured personal loan application. The twist there is that interest rates on those are usually very high.