Frequently Asked Questions

FAQ - What is Ideabay

What is Ideabay?
• The web portal that crowdsources ideas, regardless of the category and maturity and matches them with business investors.

How does Ideabay help you?
• We help you to communicate your ideas, prototypes, patents, products, businesses with investors (Corporations, Venture Capital and any other smaller company which sees potential in the idea).
• We also help business find the next best thing on the market. And maybe open their eyes to an area that they never really took into consideration.

What is the main goal of the company?
• Our main goal is to match you with business

Who should be interested in using ideabay as an idea submitter?
• No matter if you are simply looking for a quick gain, start-up your company or maybe license your product. This Portal, has been created just for you.

Who should be interested in using ideabay as an investor?
• No matter what type of business you are. We are working hard to make sure you find some brilliant ideas to improve your business results.

FAQ - Idea Related

How is my idea protected?
• In the terms and conditions (section V, point 6 & 7) we have included a clause stating:
“Copying, sharing, reproducing or using the IDEA in any other manner without following the RESERVE IDEA procedure is prohibited.”

Do I need a patent?
• It is always better to have a patent but it is not mandatory. Ideas cannot be patented, only prototypes and products can.
• Movie scripts, commercial ideas, lyrics just to give a few examples cannot be patented.

How will I know if a company is interested in my idea?
• Companies which will want to get in contact with you must subscribe to our service. Once they have, they can communicate with you. We have provided an internal communication system which allows them to message you and exchange further information (phone number, price, etc.)

What types of ideas can be posted on the website?
• Ideabay has been created to give everyone a shot at becoming famous that is why we do not want to limit the idea categories.
• No matter the idea you have and no matter the maturity (ideas still in your mind, ideas on paper, prototypes, products or a running business) of it, Ideabay will try and match you with the business that will be interested.

FAQ - Selling Related

What types of companies will be browsing through the ideas?
•It is in our interest to have as many companies browsing through the database as possible. It will allow a better match and will ensure that all ideas have a potential buyer.

What happens when my idea/ideas get sold?
•Once the idea gets sold you have an option in your idea overview to mark it as sold. This will prohibit anyone else to have the selling option. Unless you want to license the idea you cannot re-submit the idea to the Portal.

What type of information are the companies looking for?
•You can download the “What’s nice to have” document to find out more about what companies will find interesting to know.

If an investor is interested in my idea how can I finalise the deal?
•We have included two standard agreements downloadable from our web-site. You can modify them in accordance to your requirements.
•If you would like to receive the payment online there are many means to transfer funds. You can i.e. use www.escrow.com

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