Consumer Tips

Invention Promotion Or Development Companies

SUMMARY: It should be understood that the purchase of new product marketing services is a high risk expenditure, and there is no guarantee that a profit will result. Very few ideas or inventions will eventually be produced and marketed successfully. The industry should make no promises of profit or offer guarantees of success in developing your idea. The initial service offered by these companies usually costs in the hundreds of dollars. The next phase of services, usually called representation, development or marketing, usually costs in the thousands of dollars. All costs associated with invention development are at the inventor's expense. Before paying advance fees to companies offering to make patent searches, obtain patents, determine marketability, or arrange for the manufacture or sale of patents, inventors should carefully investigate. Get a written estimate of all potential fees. Carefully read and understand the terms of the contract and make sure all verbal agreements and guarantees are put in writing. Be especially on guard if vague promises of funding for development are made as an inducement for you to pay research and development costs. Have your own attorney or agent review any agreement before signing.