What is an invention submission company and how doe sit relate to patent laws? Vin LoTempio answers these questions just for you! Should an inventor go to an invention submission company? Why do inventors succeed ? What makes a something a good product to market?
If you have a new invention that you care about, be wary of calling an invention submission company. Those flashing 1-800 numbers you seen on T.V. may seem enticing, but ask yourself, “How many people do these invention submission companies actually make money for?”
Some invention submission companies see new inventors as easy prey. Inventors are so in love with their new ideas that they’ll listen to anybody telling them they can turn their idea into money. But make sure to do your research before falling for an invention submission company’s sales pitch!
One invention company, Davison, has been described as running a mousetrap scam and was on the losing end of a hefty lawsuit. They were forced to put data about their success rates right on the company website.
Take a guess how many of their 794,000 clients made money. You’re probably too high. The answer is 16!
16 inventors out of 794,000 total made money when they dealt with Davison. And by made money, we mean any amount of money over 0 dollars. If that doesn’t sound like a scam, then what does?
The worst part is that it takes inventors too much time to realize that they are putting their money right down a giant sink hole. By the time these inventors go to an actual patent attorney, they might be operating far out of the red.
Most invention submission companies don’t just swallow up inventors’ funds, they offer them almost nothing in return. Very few inventors actually end up with their inventions protected.
A lot of inventors are under the impression that these huge invention companies are doing great work for them. These companies operate like giant factories, pushing through filings as fast as they can. This might seem like the invention companies are being productive, but in reality, they are treating the invention you worked so hard on like nothing more than a stack of papers that need to be pushed through the machine. Of course, nothing of value typically comes out on the other end.
Make the right decision from the start! Look for a patent attorney that is willing to work with you one on one and give you the personalized attention you deserve. Even better, look for patent development company that is willing to work on a contingency fee basis. If they don’t make any money, then you don’t pay any money.
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Inventors Knowledge: Invention submission companies?: Patent Laws
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