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    5 Replies Latest reply on Jun 21, 2008 9:17 AM by SB.i2i

    Need Angel Investment For A Great Product

    dma1965 Newbie
      My company (located in the San Francsico Bay Area), which started as a consulting company (still most of our revenue), has created some products due to an absence of such products in the marketplace (software security tools). This has generated quite a bit of buzz among clients and large organizations we have worked with, who feel that one product, in particular, is somewhat revolutionary in its concept and implementation. We are small and have to spend an enormous amount of time and resources delivering consulting and do not have the time and resources to grow, QA, and market the product(s). We need in influx of capital to make this happen, and are looking for an angel or VC, but that alone can take an enormous amount of time. Can anyone help?
        • Re: Need Angel Investment For A Great Product
          Winelight Wayfarer
          Dear dma1965,

          I must assume as you are "technically savvy" this little software project you describe is everything you say it is. If this product is an offshoot of an effort by your team for the benefit of your customer then, you may not have any right to exploit it further. ( It basically depends on the specific language of the contract agreement your customer signed.) Check with an Attorney who specializes in Internet Law. Having said that.....................................

          As I am a journeyman Internet Marketer. I can understand why your product might be so warmly welcomed. Make sure you have a solid proprietary/right of ownership basis before you proceed. I can provide you the contact information for my Attorney if you so desire. Assuming you have the right of way to proceed with the development and marketing of your software, it would be helpful to know how much money you plan to raise to see this project through beta testing and release of version 1.xx.

          I am local and am pulling for you. Do let me know if there is anything further I might do to assist you in this effort.

          All the best,

          Winelight
          • Re: Need Angel Investment For A Great Product
            LUCKIEST Guide
            Need Angel Investment For A Great Product, Welcome to this web site.
            How long has your consulting company been in business??
            Not sure I understand your statement " We are small and have to spend an enormous amount of time and resources
            delivering consulting and do not have the time and resources to grow,
            QA, and market the product(s)."
            Have you thought of hiring a sales or marketing person to sell this product??
            One of the first items an investor or lender will want to see is a Business Plan.
            Have you developed a Bus Plan?? How much money are you looking for?? For how long??
            And how will you pay the money back??
            LUCKIEST
            • Re: Need Angel Investment For A Great Product
              SBC Team Guide
              Welcome dma1965,

              To make it easier for other small businesses owners to locateyou, your forum has been moved to the Business Classifieds section. Best of luck with your company and continue to contribute to the Forum.

              Best Regards,
              The SBOC Team
              • Re: Need Angel Investment For A Great Product
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                • Re: Need Angel Investment For A Great Product
                  SB.i2i Newbie

                  You seem to be concentrating on the technical and services in your core business, and dont have resources to grow. Your concerns seem similar and I'm writing to see if we should keep each other posted on developments, issues, and communicate. We're also tech. company w/ a product and limited marketing/business resources. I'd like to know if /how you find/resolve your financial needs.

                  The person that posted the message about propreitary rights may have a point, I hope you have that covered with your clients, if you developed software for them usually companies take care of any ownership issues in their agreements. Possibly you may have licensed your software. I imagine you would have taken care of it when you took on the project. Of course, consulting work is different, services are provided and work belongs to client generally in most cases-- this may have nothing to do with your product. If you developed a new software product on your own time/money, that would be the property of your company, and it can be licensed. There shouldn't be any issues there, but it's a good idea to check.

                  Regards,