Invention Promotion Companies

[deskjet640c]

Reading up about companies who promise to promote and exploit your invention for you, getting you a licensing deal etc.. and all I seem to find are warnings about scams.

Is there anyone out there who has actually gone with one of these companies and actually been pleased with their efforts? Can anyone recommend one?

Thanks.

 

[CSBob]

All I can suggest is to try to find one a little more specialised, as these are less likely to be a scam. Scammers tend to be wide-reaching in their aims and like to keep things general (which also helps avoid the problem dealing with specific questions).

Lots of google research required, probably, and then try to go with someone showing a long list of testimonials you can trace online to actual companies. As a last resort / check, try emailing some of those client companies.

Finally, in this internet age many people seem to have forgotten that Yellow Pages still exists! That should be your first step, and if you're lucky there'll be such a firm in your locality.

 

[PeteMate]

Reading up about companies who promise to promote and exploit your invention for you, getting you a licensing deal etc.. and all I seem to find are warnings about scams.

Is there anyone out there who has actually gone with one of these companies and actually been pleased with their efforts? Can anyone recommend one?

Thanks.

Hi, sorry to raise an old thread, but am i right in thinking you went ahead a few years ago with TBB plc?? I saw a post with your same username elsewhere and you were asking about the NDA between parties?

If you're the same guy, did all go well?? I'm asking because i'm going through the motions with them now, waiting for an initial response to my submission to them.

Thanks

 

[deskjet640c]

Hi Pete,

Yeah, that was back in 2007 with a different idea to what I'm currently proposing. TTB completed a project assesment which concluded it was a great idea and would sell. In addition via their network of contacts they believed they knew someone who could be interested in bringing it to market. A few months went by and they contacted me and said actually he wasn't interested but thanks very much and sent be a certificate which reads "Trevor Baylis OBE acknowledges with pride that xxx xxxx has supported the art of science and invention by submitting and idea for evaluation by TTB"

It's probably the most expensive certificate I've ever bought. I felt totally ripped off - but I guess you would think its all a big con unless they take up your idea. I've heard since that Baylis has very little to do with the business but I must admit it was his name that attracted me to them in the first place.

I've been to a few of these companies now and you can get the assessments done for free but no matter how good your idea is there is no-one who is willing to go ahead and work on your idea without an upfront payment of some kind or another, whether it be for the assessment, their meeting overheads or something. It is a win-win suitation for them.

Good luck to you though.

 

[movietub]

These companies are generally not a scam (it's bloody hard to scam someone by asking for no cash and spending your own money on them).

It's like a reverse insurance policy. Say 10% inventions that are not clearly rubbish probably go on to make money. Therefore you can afford to bankroll the protection of 100% promising looking inventions so long as in doing so you secure yourself say 90% of the generated revenue in year one. Or however the maths are arrived at. You just have to secure enough revenue from all inventions you protect and launch to ensure they cover the failed ones on the same period. And of course, some extra as a profit.

So no scam as such, just probably not the best way to fund a good idea - if you really believe it is a good idea.

 

[PeteMate]

Disappointing to hear... yours is the first personal account of TBB services that I've had so it's a little worrying :\

Bottom line for me was i had very little money to spend and i had to make a choice. I struggled to spare the £300 to be honest, but i thought it was the best option for me given my finances.

I'm hoping they see what i see in the idea. without disclosing anything relevant, mine is a concept that i believe virtually every motorist in the world would benefit from... and the only competing products have poor execution in comparison to solve the problem. mine could easily retail for 50% less than competing products with a healthy margin too. the design is so simple in contrast.

I reckon a grand would be enough to make a cracking prototype... then i could hammer on the doors of all the big boys. i'd be happy to do that myself.

Maybe £300 lost, but i know i can make this work if their checks come back that there's no infringement so by no means wasted if they don't decide to push it for me

Thanks a lot for the insight there. i've been scouring the net for that info for a week!

PS, movietub i agree definitely. doesn't make it easier for the inventor though

 

[movietub]

PS, movietub i agree definitely. doesn't make it easier for the inventor though

Who said inventing was easy!

If you believe in your invention, reach deep into your own pocket, protect it, build a prototype. Borrow the money off your nearest and dearest - it's fine, you believe in it. Borrow it at a stupidly high APR if you believe in it...

The bottom line surely is that anyone could get the cash somehow if they were 100% confident in their invention. And anyone can get an effective patent if their invention really is unique enough to be commercially a 'safe bet'.

So the only reason I can think of for anyone not managing to at least secure an idea and build a prototype, is that they have doubts. If so, iron out the doubts, then move ahead.

I'm aware of course that in the heat of creative excitment logic is not always the most powerful force

 

[PeteMate]

Who said inventing was easy!

If you believe in your invention, reach deep into your own pocket, protect it, build a prototype. Borrow the money off your nearest and dearest - it's fine, you believe in it. Borrow it at a stupidly high APR if you believe in it...

The bottom line surely is that anyone could get the cash somehow if they were 100% confident in their invention. And anyone can get an effective patent if their invention really is unique enough to be commercially a 'safe bet'.

So the only reason I can think of for anyone not managing to at least secure an idea and build a prototype, is that they have doubts. If so, iron out the doubts, then move ahead.

I'm aware of course that in the heat of creative excitment logic is not always the most powerful force

indeed. spending the £300 really was a big deal for me at the moment. for someone already in a manageable amount of debt to add to that is not a good way forward. There's no logic there regardless of how good the idea is. route to market then profitability could be 24 months ahead of me.

I still believe there's a path of minimal resistance for me without betting the farm on it, and given that competitors with some serious backing have poorly addressed the same problem (a major car manufacturer spent a fortune and came up with something laughable in comparison), I'd say the logical approach is to tread carefully to eventually win the day!!

 

[movietub]

indeed. spending the £300 really was a big deal for me at the moment. for someone already in a manageable amount of debt to add to that is not a good way forward. There's no logic there regardless of how good the idea is. route to market then profitability could be 24 months ahead of me.

I still believe there's a path of minimal resistance for me without betting the farm on it, and given that competitors with some serious backing have poorly addressed the same problem (a major car manufacturer spent a fortune and came up with something laughable in comparison), I'd say the logical approach is to tread carefully to eventually win the day!!

Great attitude.

And £300 right now may be a struggle, but guess what? In between the time you were born and the day you drop you the average person will earn/spend more than £1m. So £300 on something you believe in? Don't feel bad.

So I think there is logic. I think if you're short on cash then it's even more sensible to invest in something so long as you believe it will bring a better future. Better to tighten the belt, push the budget and dream of tomorrow than play it safe and live with no ambition huh?

 

[PeteMate]

here here

 

[deskjet640c]

"These companies are generally not a scam (it's bloody hard to scam someone by asking for no cash and spending your own money on them)"

But there are no companies I have found so far that will offer up front work for no cash. Everyone I have found so far want money, in some way or form, up front. Nobody wants to 'partner' me and take the risk.

One Example. A company said they thought my idea had fantastic commercial potential and they were currently working on a kitchen product range for a client which they were sure would take it on. Initially they wanted £2000 to cover their introduction costs plus they would take 4% of all profits they made for me. After me telling them I didn't have £2000, or even £1000 they suggested I pay them £100 a month for 5 months.

Like Pete money is a big deal for me at the moment so I suggested if they believed the idea was such a sure thing that they take the first £500 of the profit they made me (I think I even suggested they take the first £5000 in the end) plus their 4% there after.

Now I understand companies need money to operate, and maybe £500 is a big deal for them too, but they way they described themselves as a large established company who had done numerous enormous deals before I just couldn't believe that £500 would be a sticking point - considering how much money they awere going to make out of me in the future -and alarm bells rang.

 

[PeteMate]

"These companies are generally not a scam (it's bloody hard to scam someone by asking for no cash and spending your own money on them)"

But there are no companies I have found so far that will offer up front work for no cash. Everyone I have found so far want money, in some way or form, up front. Nobody wants to 'partner' me and take the risk.

One Example. A company said they thought my idea had fantastic commercial potential and they were currently working on a kitchen product range for a client which they were sure would take it on. Initially they wanted £2000 to cover their introduction costs plus they would take 4% of all profits they made for me. After me telling them I didn't have £2000, or even £1000 they suggested I pay them £100 a month for 5 months.

Like Pete money is a big deal for me at the moment so I suggested if they believed the idea was such a sure thing that they take the first £500 of the profit they made me (I think I even suggested they take the first £5000 in the end) plus their 4% there after.

Now I understand companies need money to operate, and maybe £500 is a big deal for them too, but they way they described themselves as a large established company who had done numerous enormous deals before I just couldn't believe that £500 would be a sticking point - considering how much money they awere going to make out of me in the future -and alarm bells rang.

Woah! i can see how this is a good revenue raiser for these people. First rule of sales is to gush enthusiam for the whole idea of what you're selling. They were clearly trying to squeeze money out of you. I think this is the reason Baylis Brands was established in the first place. I think TBB are genuine people, but concerned they won't have the resources to help me :\