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Does anyone have a prewritten contract to sell EA Advisors?

  • #1
  • First Post: Mar 22, 2008 7:34pm Mar 22, 2008 7:34pm
I have built an EA advisor. It works great. I have some friends who would like to buy it to make money. I am reluctant to sell with a disclosure agreement or contract. Anyone have a pre-written contract or disclosure agreement for an EA advisor?

If not I will contact a Contract Lawyer.
  • #2
  • Mar 23, 2008 12:52am Mar 23, 2008 12:52am
Usually, you wouldn't need a contract unless your leasing because if the buy they have full rights to do with it as they wish. You can always have your EA password protected, have an expiration date, or add account # protection to only work on one account # if you don't want them selling it behind your back if that's what your worried about.
  • #3
  • Mar 23, 2008 12:57am Mar 23, 2008 12:57am
My opinion is, NEVER EVER give your EA to anyone..
It only takes 5 minutes to decompile it..
The better option, is to transmit trades. This is what I do with my friends. This way, they get the orders, you protect your code. No NDA needed.



Quoting powerline
I have built an EA advisor. It works great. I have some friends who would like to buy it to make money. I am reluctant to sell with a disclosure agreement or contract. Anyone have a pre-written contract or disclosure agreement for an EA advisor?

If not I will contact a Contract Lawyer.
  • #4
  • Mar 25, 2008 1:53am Mar 25, 2008 1:53am
hi powerline,

Have you found anything? I've developed a couple of EAs, too, and I'm concerned about the legalities of giving them to people (for money or for free) just in case they lose $$$. Do you know what the potential liabilities are for developing this kind of software?

My current thinking is that, as long as you disclose what the system does and the system does exactly that, people can decide to use it at their own risk. If you don't disclose the system, your customers are relying on your recommended trades, which may have implications if they then lose a lot of money.
  • #5
  • Mar 25, 2008 2:30am Mar 25, 2008 2:30am
Its not the risk thats an issue.. A simple disclaimer will do..
its the fact that your EA will be decompiled, and if its any good, will be changed and resold.. You need to protect the code.
The only way is to use a DLL or send trades via a robot.


Quoting s/l
hi powerline,

Have you found anything? I've developed a couple of EAs, too, and I'm concerned about the legalities of giving them to people (for money or for free) just in case they lose $$$. Do you know what the potential liabilities are for developing this kind of software?

My current thinking is that, as long as you disclose what the system does and the system does exactly that, people can decide to use it at their own risk. If you don't disclose the system, your customers are relying on your recommended trades, which may have implications if they then lose a lot of money.
  • #6
  • Mar 25, 2008 3:09am Mar 25, 2008 3:09am
Quoting Ghamm
My opinion is, NEVER EVER give your EA to anyone..
It only takes 5 minutes to decompile it..
The better option, is to transmit trades. This is what I do with my friends. This way, they get the orders, you protect your code. No NDA needed.
How would you decompile an *.EX4 ?

Isn't it compiled in a proprietary format ?
  • #7
  • Mar 26, 2008 5:58pm Mar 26, 2008 5:58pm
Quoting toshi
How would you decompile an *.EX4 ?

Isn't it compiled in a proprietary format ?
A quick search on Google suggests that there are plenty of people trying and some who can. I found some great [although pretty heavy] articles by Patrick Nouvion on creating DLLs which are supposedly more secure, including a video tutorial on how to do it. I haven't watched it all the way through, yet.
  • #8
  • Last Post: Mar 26, 2008 6:57pm Mar 26, 2008 6:57pm
Dont sell the EA. Just set yourself up as an IB with a MT broker and manage accounts with it for your buddies. Its really easy and you dont have to worry about your Intellectual property floating around the net.
Keep it simple stoopid....
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