Many inventors do their own “leg work” when it comes market analysis and making contacts/developing business leads for marketing their invention. An inventor may wish to license his technology to a manufacturer and receive a royalty payment, or sell his Intellectual Property outright. Industry or trade organization Web sites and trade shows can be an excellent starting point for developing contacts and business leads. Another approach is to hire a manufacturer or fabricator to make a patented product, and the inventor sells the product through retail outlets, the World Wide Web, etc.
Many states have planning and development agencies or departments of commerce and industry to assist inventors. For more information, visit the Small Business Administration Web site.
Due to the negative experience of many inventors with invention promoters (a.k.a. “invention submission/marketing companies”), as part of the American Inventor’s Protection Act of 1999 Congress charged the USPTO with providing a public forum for the publication of complaints concerning invention promoters/promotion firms. To visit the USPTO’s Scam Prevention page on the Web, click here.
Generally speaking, before giving any money to an invention promoter or signing any contract for services from an invention promoter, an inventor should thoroughly investigate the company using the tips outlined by the USPTO’s Scam Prevention Brochure. Moreover, an inventor should have a clear understanding of the services an invention promoter is going to provide for the money it receives, and make a realistic evaluation as to whether such services are worth the cost. Also, be sure to ask an invention promoter about their experience with prosecuting patents before the USPTO, and ask whether they have licensed patent attorneys in-house.
The information included herein is for informational purposes only. The Firm does not intend to create an attorney-client relationship with you by providing this information.