Facts for Consumers
Invention Promotion Firms
Using Patent or Invention Promotion Firms
Advertisements for invention promotion firms are on television, radio and the Internet and in newspapers and magazines. These ads target independent inventors with offers of free information on how to patent and market their inventions. Often, however, the information is about the promoter.
If you respond to the ads—which may urge you to call a toll-free number—you may hear back from a salesperson who will ask for a sketch of the invention and information about your idea and you. As an inducement, a firm may offter to do a free preliminary review of your invention.
Some invention promotion firms may claim to know or have special access to manufacturers who are likely to be interested in licensing your invention. In addition, some firms may claim to represent manufacturers on the lookout for new product ideas. Ask for proof before you sign a contract with any invention promotion firm that claims special relationships with manufacturers.
After giving your invention a preliminary review, a firm might tell you it needs to do a market evaluation of your idea—for a fee that can be several hundred dollars. Many questionable firms don't do any genuine research or market evaluations. The "research" is bogus, and the "positive" reports are mass produced in an effort to sell clients on additional invention promotion and marketing services. Fraudulent invention promotion firms don't offer an honest appraisal of the merit, technical feasibility or market potential of an invention.
Some invention promotion firms may also offer a contract in which they agree to help you market and license your invention to manufacturers. Unscrupulous promoters may require you to pay a fee of several thousand dollars in advance. Reputable licensing agents usually don't rely on large advance fees. Rather, they depend on royalties from the successful licensing of client inventions. How can they make money when so few inventions achieve commercial success? They're choosy about which ideas or inventions they pursue. If a firm is enthusiastic about the market potential of your idea—but charges you a fee in advance—take your business elsewhere.
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