Invention Scams - How To Avoid Companies That Claim To Make You Millions From Your New Invention Idea

There are many invention promotion firms who will advertise that they will take your idea to market for a fee that can range from $1,000 to $40,000. They advertise that they will contact manufacturers for you, give you a website to promote your product, and to promote your product in magazines and other media.

Unfortunately there are companies that are scams. They conduct inventor fraud by operating in unethical ways.

Here are some tips for determining if an invention promotion firm is legitimate or a scam.

1. Check the U.S. Federal Trade Commission website. The U.S. Federal Trade Commission’s job is to protect consumers. If you type “invention promotion” in their search box on the U.S. Federal Trade Commission website, you will come up with some very helpful articles on what to look out for when dealing with these firms.

2. Ask for references. Ask them to give you the names of other clients so you can contact them to see if they were satisfied with the firm. But beware….if the firm is fraudulent, they may give you fake names as references. So make sure when you talk to the reference you ask questions that you can verify yourself, such as ” What is their patent number?” “Where do they sell your product?” What manufacturing company licensed their product?” Then you can do some quick research of your own to verify if the reference is legitimate.

3. Go to the U.S. Patent and Trademark website to find out if the company has any complaints filed against them. Click on Patents, Inventors Resources, then Complaints.

4. Trust your gut instinct. If their offer sounds too good to be true, it usually is.

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