The Perils of the Informational Meeting
According to Boston.com, in 2006 the founders of Sittercity, a Chicago-area website agreed to a meeting with an entrepreneur-in-residence for Boston's Matrix Partners. No investment from Matrix was forthcoming, and 3 months later, the EIR formed a competing business that attracted more than $16 million in investment from VCs that included Matrix.
No wrongdoing appears to be alleged by either side. Rather, the story paints this as a cautionary tale about what can happen when you fail to understand the agenda of a VC meeting. You could end up disclosing far more than you otherwise would to a potential rival, for one thing, and spending disporportionate amounts of time providing follow-up feedback and details.
Strategic meetings that are requested to get to know your business may well be useful, collaborative events, but the kind of information you provide should be adjusted accordingly.