Angela

You’re all right. One thing I should add is that you also have to be aware of what isn’t a scam. Usually your gut feeling helps but you have to make sure what it tells you is in fact correct. It takes time and effort to find out which companies/people are scammers and which aren’t.

1. You have to make sure that your idea something new.
2. You need to secure your intellectual property rights and make your idea semi-protected. Unless you have embodied the implementation in hardware or code, you have a concept which may or may not be fully protectable.
3. A lot of companies will refuse to sign an NDA to limit the possibility of…[Read more]

As I said on the other thread, you’d want to ask them the following questions:
– what exactly will the $4,500 get you?
– ask for a list of things they will do for that money.
– is there a refund if they aren’t able to license your idea?
– how many products have they tried to license and how many have they actually licensed?

My guess is that less…[Read more]

You should definitely ask them the following questions:
– what exactly will the $4,500 get you?
– ask for a list of things they will do for that money.
– is there a refund if they aren’t able to license your idea?
– how many products have they tried to license and how many have they actually licensed?

My guess is that less than 1% of all their…[Read more]

Hi Mike,

You don’t need to have your patent before you start pitching your idea to a company. What you need is to apply for a patent first to try and maintain some level of control or protection on your idea, and only then try to pitch or sell your idea to the company to see if they would be willing to buy or license your patent application from…[Read more]