There are lots of sharks out there ripping off inventors. They usually place adds on the television, radio, magazines and newspapers. In most of their adds, they will offer a 1-800 number for inventors to get free information about patenting and marketing their inventions. Once they have your contact information, you will usually get an offer for them to do a free preliminary review of your invention. Regardless of whether the idea is good or bad, they will inform you that the invention has huge potential. Now this is where the scam begins.
After the preliminary evaluation, invention marketing companies will then recommend a comprehensive market evaluation. The cost for this supposed valuable marketing study can range between hundreds to thousands of dollars. Once completed, they then supply the inventor with a rosy forecast, predicting that their invention will easily earn millions of dollars. Sadly this is when people fall into the trap of only wanting to see and hear what they want to see and hear. Seeing images of millions of dollars rolling in, blinds them to the fact that this market evaluation report has little if any concrete data. Instead, it contains only vague and general rosy statements professing the inventions potential to reap unimaginable wealth.
These unscrupulous companies don’t stop here. Oh no! They’ve just started to milk your cow. They’ll tell you that based on their marketing evaluation they are very interested in helping you commercialize your idea. They then trot out an agreement whereby they offer to bring your invention to the marketplace for a fee and a percentage of the future royalties.
Their next move is to recommend that you get government protection for your invention. They usually ask for a fee ranging from $2000 to $8000 to acquire this very important legal protection. Now while you the inventor are under the impression that the company is charging this fee to write and apply for an utility patent, what you’re really getting, if you are lucky, is a filing of a provisional patent application. What is really scary, is that a provisional patent, only gives you protection for a year. And that’s not all. If it’s poorly written, it gives you no protection whatsoever. What is really sad, is that a provisional patent is relatively easy to write and only costs $160 to submit to the US Patent and Trademark Office.
Now that they milked your cow dry, it’s time for them to butcher it. This is usually done by telling you that they need more money in order to promote your product to the “right” companies. When a list of companies is presented, oftentimes if you were to research their list you would discover that many of these companies don’t even do business in the area of your invention. Sadly, if you are like many duped inventors, you’ll still have your blinders on, seeing what you want to see and believing what you want to believe as you are being led to the slaughter house.
The bottom line is that if you encounter any company that claims to take an idea completely from the idea stage to the marketplace, they are a scam. Avoid them at all cost! Developing and marketing an invention is basically an “a-la-carte” process. This means that you will need to utilize independent specialized vendors to perform different jobs as you go along the path of developing, patenting and marketing your invention.
So who do you approach, when you are ready to commercialize your invention? There are three broad groups that you’ll want to consider, invention licensing agents, product scouts and potential licensees. Invention licensing agents are professionals that promote inventions to companies that are well positioned to bring them into the marketplace. Product scouts are individuals that work for one or more companies that are seeking new products. A potential licensee is a company that is directly looking to license products.
One very good way to find an invention licensing agent or a product promoter is to pitch your invention in IntellectualPropertyStore.com. This listing site can be used to showcase your patent to hundreds of licensing agents and product scouts that are scanning this site daily for products they may be interested in promoting. These professionals have major industry connections. So if you want to get your invention in front of the decision makers that can turn your idea into a reality, then decide to showcase it in IntellectualPropertyStore.com today!
IntellectualPropertyStore.com also attracts thousands of people and companies that are actively looking for new business opportunities. Many of them are very interested in purchasing the intellectual property rights for products that can be commercialized and turned into a thriving business. Instead of making cold calls and knocking on company doors to find these people, why not let them find you! When you place a listing on this site, you can use narratives, pictures and movies to pitch the commercial marketability of your patent. This is a very powerful and timesaving way to either sell your patent outright or license it.
When you have a valuable utility patent, another option you can consider is creating your own company to manufacture and sell your invention. If you are considering this option, you need to check out NewBusinessCreator.com. This website will give you the information that’s needed to create a successful business. It also serves as a portal to a number of affiliated listing sites that will enable you to obtain the capital, human resources, materials and marketing systems that will be required make your dreams a reality.