Maia

[Maia]

Hi, Adam. For $12,000 I would demand some results.
In this case, I would seek the advice from an Attorney. Do not give them any more funds and do not sign anything without your Attorney looking at it first. Any company that says it can make millions could be a scam.No Honest Company makes such Claims. Did you actually talk to the people that will be buying your product? Remember
family and Friends do not count. I was ripped off by these kinds of Companies, I hate to see it happen to Anyone else. Please contact an Attorney A.S.A.P!!

[Maia]

You do NOT need a provisional in order to get a Utility patent. You can bypass the provisional altogether if you are ready to file a full utility patent. My impression is that provisionals in themselves do not prevent you from getting an international patent. What DOES make you ineligible for an international patent is if you try to sell your product or you disclose your product in public BEFORE you file the international application. In the US, you have 1 year to file the application after an offer for sale or public disclosure. But in other countries, all patents have to be filed BEFORE you do any of that. So, if you get a provisional patent and then put up a website, go to a tradeshow or try to sell your invention on eBay, you forfeit your rights to ever being able to get an international patent. If you do all those things but then don’t file a US application within 12 months, you will never be granted a patent anywhere in the world.

[Maia]

Hi Sophia,

Welcome! I am going to attempt to license my product over manufacturing it, etc. My main reason for this is time and money :). I am not experienced in business and don’t have much capital. I am a stay at home mom, so time is a big issue for me as well. Licensing seems like it will allow me to have someone with more experience handle the areas in which I am not strong. Before I found out that licensing was even an option, I tried to do it myself and was basically stopped in my tracks by all the details that starting up a business around my product would entail. For my first product, I feel comfortable letting someone else take most of the risk and getting less of a percentage in return.

[Maia]

Hi, Sophia. I can give you 3 pieces of advice from my personal experiences.

1. Don’t Rush.
Never “rush” into the invention marketing process. Make sure to take your time before making important decisions that affect you and your invention. Rarely are there situations where an inventor needs to make a decision within a few days.

2. Investigate.
Thoroughly investigate any invention promotion company BEFORE providing them with your invention or money. You can visit the FTC web site to search for information about invention marketing companies.

3. Education.
Educate yourself about the invention process and invention marketing companies. The Federal Trade Commission (FTC) and the United States Patent & Trademark Office (USPTO) have several informative articles for inventors to read prior to starting the invention process.
in the end, I wish you the best of luck for your invention.

[Maia]

Interesting thought, Julian! I would say those inventions that do not solve a problem may become like a fad product. They will “buzz” for a while and then die out.

If a problem is solved then they will grip more and stick around longer?

If they solve a BIG problem they may stick around for a very long time and become legendary? So maybe try to find a problem solver as first choice?

Just thought of this concept. Makes sense to me I think.

[Maia]

Firstly, the answer to your big question is ‘no’ someone cannot come behind you and get a ‘utility patent’ on a device that you have been selling! Because you have been selling it your device is automatically in the public domain one year from the date you first disclosed it. ‘IF you don’t file for a patent during that year.

On the other side of that coin is that without a patent you have NO legal recourse to stop ANYONE ELSE from making and selling your exact product.

[Maia]

Yes, Danny. You can license with more than one manufacturer as you want but that would result in lower royality percentage (this is known as “non-exclusive licence) as compared to exclusive license for one seller with high royality percentage.

[Maia]

Hi, I would answer generally rather pointing any sector or area. Look for the opportunities in your area of expertise rather looking for a sector then learn it and try to innovate in it. For example, if you are expert in plumbing, it is easier for you to invent in plumbing than invent in shoemaking. Hope you get that. Best of luck for the future.

[Maia]

Hi, Lucy. Licensing proceeds usually involve a fee paid upfront to you through a signed licensing agreement between the parties. These agreements may also include milestone payments that come due as the technology or innovation is commercialized, and/or a royalty fee set at a percentage of the revenue or earnings from the eventual sale of products or services.
The amount of the fee upfront, milestone payments, and royalties are negotiated between the parties and generally, reflect the effort and stage of commercialization. In other words, the more developed your product or service is, the higher the proceeds tend to be. I hope that helps.

[Maia]

Hi. The most important is that you should apply for a patent for your product as getting patent for your product take much time you should always apply for PPA (Provisional Patent Application). This always saves you from getting scammed.

[Maia]

Here’s how to tell if a company offering services to you is not a scam. Generally speaking, if the company spends no more of its time, or your money, in the process of diligently attempting to determine that your invention is part of the 999 of 1000. If they suggest a majority of the time that your invention is probably not worth pursuing further, then I’d say you have the real deal. Sadly, only a handful of companies in the United States are able to pull this off and stay in business. In your case, your company is asking for so much money, it’s more probable that it’s a scam.

[Maia]

yes, you are right, Connor.

[Maia]

I hope that helps.

[Maia]

According to my experience, most of the companies would license the innovation that has patent or PPA. As you want to save your invention, they too want to save it from competitors’ infringement. And the best way is to get PPA for your invention and then license it.

[Maia]

Hi, Danny. I hope that helps. Good luck.

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