51–60 of 107 posts
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This would require millions in legal fees.
Not it won't. If it is an outright copy (that's relatively easy to prove) you can have an injunction issued, besides that the bad press alone might get them to back off. I've brought a lawsuit like that and won << $100K.
The real answer is to out execute them. Taking time to do legal action will only waste valuable resources. Ironically the founder worked at Rocket-internet which was notorious for copying successful startups https://techcrunch.com/2018/09/27/wimdu-rocket-internets-air...
Talk to a lawyer. Copying your API is possibly a copyright violation. But take the lawyer's advice with the following grain of salt. It is in a lawyer's interest for you to go to court. But the best outcome FOR YOU is almost certainly a negotiated settlement. However your legal threat is the best way to get them to settle. https://www.bhfs.com/insights/alerts-articles/2021/supreme-c...
Imitation is the sincerest form of flattery. This is just another proof point, you may even be able to use it to raise more capital. Focus on your differentiator/USP and providing the best service to your customers. Any decent and obvious market has copycats and competitors.
This. By pivoting to your business model, they are lending it validation and doing you a favour. It’s another reason for a VC to invest in your product vs theirs, as you have been at it longer. If you really believe in yourself and your team, work hard to outcompete them. Like many others have said, unless there is something illegal about this, it is fair game.
The real answer is to out execute them. Taking time to do legal action will only waste valuable resources. Ironically the founder worked at Rocket-internet which was notorious for copying successful startups https://techcrunch.com/2018/09/27/wimdu-rocket-internets-air...
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Unless you have tons of funding and lawyers already on retainer, this is horrible advice Legal fees will drain your funds faster than anything else and you will probably not see any benefits from it In fact it might be what makes your company fail (taking away the focus from building your business)
Of course it isn't horrible advice, legal affairs are dealt with by lawyers and courts. If you have a product out there in the market you should go to bat for it. And yes, it might make your company fail. But that goes for a well funded competitor outright copying your product as well.
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Not it won't. If it is an outright copy (that's relatively easy to prove) you can have an injunction issued, besides that the bad press alone might get them to back off. I've brought a lawsuit like that and won << $100K.
How many hours in legal fees did you pay for your attorneys?
Earlier quoted context omitted.
Of course it isn't horrible advice, legal affairs are dealt with by lawyers and courts. If you have a product out there in the market you should go to bat for it. And yes, it might make your company fail. But that goes for a well funded competitor outright copying your product as well.
The trick is getting an objective assessment of how strong the case is, the risks, opportunity cost, etc. There are a lot of lawyers who are perfectly happy to tilt at windmills for $500 an hour until you run out of money.