Invention submission corporations are companies that claim to turn new invention
ideas into hot-selling products that create multi-million dollar pay days for their
Of course, there is nothing wrong with this. Heck ... it sounds GREAT. Who could
argue with an invention promotion company that takes your new invention idea and
honestly and skilfully generates REAL wealth from it. Hey ... where do I sign??
what’s the problem with these “We-Do-It-All-For-You” type invention submission companies
The problem is the way they operate, the false claims they make, the lack of
real and verifiable results, the unfulfilled promises ... and above all perhaps -
the seductive fraudulent way they cleverly get their hands on your hard-earned money
WITHOUT making you a penny in return.
Mainly (but not exclusively) a North American
phenomenon, these kinds of invention submission corporations tend to advertise extensively
- online, on TV, on Radio and in Print.
And once they have elicited your response,
they use slick sales-driven techniques designed to capture the hopes and dreams of
inventors, without being honest and transparentabout your ongoing costs and their
own lack of real proven results.
So how big a problem is it? Well, invention submission
corporations (sometimes called invention promotion firms) have such a bad reputation,
that in 1999 the USA enacted the “American Inventors Protection Act” into legislation
to try to stamp out these unethical practices. Regrettably though - unsuccessfully!
what should you look our for? How can you spot these invention submission promotion
How they work ... what to look out for
Unethical invention submission corporations / invention promotion companies tend
to use a series of clever “hooks” to get you well ... hooked!
Again, there are two
key points: Firstly they tend not to be transparent and up front about the ongoing
costs you will incur. And secondly, their slick marketing material ignores the core
reality of their appalling success rate - which approaches0.00%.
Although it will vary company to company, an invention submission corporation will
tend to operate using variations of the following pattern:
1. in response to your enquiry, you get a slick brochure or a call from a highly
trained sales-person (possibly on commission) reinforcing the wonderful financial
opportunity their invention submission firm can give you - but explaining that you
need to pay them to do an initial “invention evaluation” (they might even offer this
2. this evaluation is always positive (regardless of the true merits of your invention),
and then leads to a further request for money to create a market research report
to better quantify and qualify what they claim is your fantastic financial opportunity 3.
the report, which is often nicely bound, is then likely to contain a host of generic
data and graphs that are too general, fuzzy and unfocused to be of serious PRACTICAL
value, but ... 4. the report (or cover letter) will further claim that your invention
idea is both patentable AND a potential fortune generator ... BUT you have to act
quickly before someone else beats you to it 5. This pattern continues ... you are
now asked for money to pay for a patent search report
6. This pattern continues ... you are asked for money for the patent application,
then a product design, then a prototype, then for marketing and licensing. You end
up paying them many, many, many thousands of dollars, BUT ...
Once they have bled you as much as they can, you will most likely never hear from
them again! And even if you do, this kind of submission invention company has a
success rate approaching0.00%. In conclusion then ... there are probably no magic
one-stop-shop, we-do-it-all-for-you companies, that take your new invention idea
and develop it into a million dollar payday for you - while you sit back and do nothing
except pay them. Please consider yourself duly warned!
However, if you are still tempted
by this kind of “we-patent-and-prototype-and-design-and-market-and-license-it-all-for-you”
type of invention submission corporation, do be sure to check-out these invention
scam warning signs, as published by the US Patent Office.