Facts for Consumers About Invention Promotion Firms

Facts for Consumers About Invention Promotion Firms

You may have a great idea for a new product or service, but a great idea
is not enough. You need to know how to develop and market it commercially. You
could try to sell your idea or invention to a manufacturer who would market it
and pay you royalties. But finding such a company could be an overwhelming
task. You also could consider using the services of an invention promotion
firm.

Some invention promotion firms may help you get your idea or invention
into the marketplace. But be aware, some inventors have paid thousands of
dollars to firms that promised to evaluate, develop, patent, and market
inventions and got nothing for their money.

So be cautious. Your enthusiasm for your idea may make you vulnerable to
promoters who make false or exaggerated claims about the market potential of
your invention.

This guide tells you how to spot some common signs of trouble, how to
protect yourself, and what to do if you become a victim. It also lists
government agencies and private organizations that offer additional
information and assistance.

How to Identify Legitimate Firms

Often, it is difficult to distinguish between a fraudulent invention
promotion firm and a legitimate one. This may be because unscrupulous and
honest firms often use many similar advertising and sales techniques, market
evaluations, and contract strategies. However, there are some comparisons made
in the next three sections that may help you identify legitimate companies.