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Has Anyone [worked with Innovative Licensing and Promotion?]

Postby Persistent1 » Mon Sep 06, 2010 11:50 pm

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Has anyone worked with Innovative Licensing and Promotion in Canada? The owner is Vince Kehoe. I have not been able to find anything negative and their BBB rating is A+ . They look interesting. I'm close to submitting at least one of my ideas to them, Lambert & Lambert, or Davison. I'm leaning toward L&L because they seem the most flexible with helping develop my idea into a product without a substantial amount of investment up front. I think they may even negotiate some of the fees into their take on the backside. Any other suggestions? I'm really interested in having a good marketing firm help push the product because my invention could be sold down so many different avenues. Skymall, QVC, Infomercial, as well as retail outlets.

Re: Has Anyone

Postby apapage » Tue Sep 07, 2010 9:00 pm

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Search this forum. I think you will find some interesting things about Davision. Also search google using Davison and scam as keywords. You will be surprised what you find. Do the same with L&L. Finally, search inventored.org. They have a list of companies to look out for.

Re: Has Anyone

Postby rather-be-golfing » Wed Sep 08, 2010 9:03 am

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Hi Persistent1,

I live in Calgary and I have actually worked with Vince. He helped me get started on one of my products. He is honest and knowledgeable. The benefit that you get is that he does not have hundreds of clients so you get more personal service and he won't have time to pursue dead-ends.
You just need to remember that any of these companies make money on each and every service that they provide. What I found is that if you are willing to put in the time and effort you can do most of it on your own.

But if you can afford to pay someone else to do most of the work for you, Vince is good.

Good Luck,
RBG

Re: Has Anyone

Postby Roger Brown » Thu Sep 09, 2010 8:07 pm

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Read this. viewtopic.php?f=29&t=694 and this one viewtopic.php?t=143

Before using any of these companies ask them how many Inventors made more money from royalties than paid them for their services. You will find that number to be extremely small because they make the bulk of their money selling you services.

You can do the majority of what they would charge for yourself investing some of your time.
Come visit my sites at http://www.RogerBrown.net
or http://www.looking2license.com
I have gotten 9 products licensed spending less than $100 on each, you can too.

Re: Has Anyone [worked with Innovative Licensing and Promoti

Postby ideachick » Mon Sep 27, 2010 2:15 pm

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I am so confused! Ran across this thread because I, too, am considering using some of the same companies for several invention ideas I've been working on - now I want to take the next step.

What I'm gathering from many of the posts I've read is that most people here have little faith or respect for any of the Invention companies out there. Seriously, are we all idiots to consider their help?

The majority of the companies I've researched operate in a similar manner, having a confidentiality agreement or record of invention form, etc. I'm seeing at least one negative post for every company I'm considering - not too different than if I were to compare hair salons or car dealers and yada, yada, yada.

Is it because it is easier to be p.o'ed and go on an internet rant than it is to give positive reviews and feedback? Facts are facts when it comes down to the reality of the low percentage of ideas that actually make it to the market as a successful product. I know this and I'm willing to take the risk. I know I have to make an investment to possibly see my ideas become a reality. Luckily, I can afford it and realize not everybody is in my position.

I consider myself an intelligent person, yet I don't have the time or know how to take my ideas and inventions to the next level.

I'm hoping there is at least one person out there who can see some value in these companies.

Anyone?

Re: Has Anyone [worked with Innovative Licensing and Promoti

Postby jackbnimble56 » Mon Sep 27, 2010 3:10 pm

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Persistant1 and ideachick

Go back and read Roger's response. He's asking the $64,000 question which I will reiterate: What percentage of their clients have actually MADE more money than the SPENT on their services? This is a question to ask ANY entity that purports to be able to help get your idea to market. The reason way you don't have to look very hard to find one or more complaints for virtually ANY invention assistance company out there is that people simply don't understand that there is NO GUARANTEE WHATSOEVER that you will turn a profit on the SIGNIFICANT investment they typically require! The reality is that even the best of the best have to be viewed with a great deal of caution. Think about it for a minute. What motivation do ANY them have to tell or anyone that their idea stinks and it will NEVER make money? The answer: NONE!! They have NO legal obligation at all to say that! If you put yourself in their shoes for a moment, you suddenly realize that YOU would never tell a prospective client something like that either! In doing so you would be turning away business and let's face it, they're in business to make money. Therefore, when you look at it that way, virtually ANY invention assistance company is ALWAYS to tell people that they think they have a winning product.

At this point, it's fair to ask "How then, do any of these guys stay in business??" Roger can articulate much better than I can but it basically comes down to this: Getting something from the idea stage to a commercial product takes a LOT of work! It involves a lot of due diligence, research, and digging, digging and more digging. But most people simply don't want to put forth the effort to do it right. They want a quick path to riches so they figure they'll pay someone else to do all the dirty work for them because they idea is BOUND to be worth MILLIONS, so paying 10, 20, 30, $40,000 or more is a drop in the bucket, right? But when you follow Roger's suggestion and ask that very pointed question, they ALL try to duck:

"What percentage of their clients have actually MADE more money than the SPENT on their services?"

Do you know what the typical answer is for even the most reputable ones? A FRACTION OF A PERCENT!! This is the cold, hard reality. And if you search the web for complaints about XYZ corporation, you will typically find people complaining about the same thing: "I gave them all this money and I still don't have a licensing deal and my product hasn't made it to market!"

But then you'll also find rebuttals by the companies defending themselves in which they CLEARLY state that they EVERYTHING they promised they would do! They DON'T guarantee success, they CAN'T guarantee success and if you find any entity that does RUN, don't walk away!

I'm sorry if this seems like a bucket of cold water that's pretty much the reality of the situation. It doesn't mean you can't succeed by using one of these companies, you just need to understand for what it’s going to cost you your chances of success are extremely slim and you could end up finding out the hard way that almost everything they offer can be done yourself if you're willing to put in the time and effort.

The only entity I know for certain that does NOT charge people money up front is the Big Idea Group. There may be 1 or 2 others but none come to mind at the moment...

Jack
Nimble Jack Enterprises - Innovative Solutions to Everyday Problems
To purchase the Magic Toob product visit: http://www.magictoob.com/

Re: Has Anyone [worked with Innovative Licensing and Promoti

Postby ideachick » Tue Sep 28, 2010 5:48 am

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Thanks, Jack.
It is not a bucket of cold water - it is the truth. And I DO understand the small percentage. You could say the same thing about gamblers in Vegas

I agree with this part of your post:
Getting something from the idea stage to a commercial product takes a LOT of work! It involves a lot of due diligence, research, and digging, digging and more digging. But most people simply don't want to put forth the effort to do it right.


That pretty much describes me - but it is not that I don't want to put forth the effort - I simply don't have the time and would rather put it in the hands of professionals who do this type of work on a regular basis.

I believe this part of your post applies to a smaller percentage of people:
They want a quick path to riches so they figure they'll pay someone else to do all the dirty work for them because they idea is BOUND to be worth MILLIONS, so paying 10, 20, 30, $40,000 or more is a drop in the bucket, right?


The above quoted group are probably the same ones that keep feeding the progressive slot machine in Vegas. If they're delusional about the invention process, chances are they're unrealistic about other aspects of life and what it takes to gain riches or be successful.

Could I have sold my previous homes on my own and saved scads of money in commissions? Certainly. But I used a real estate agent. Because for me, time is money .... and I probably made more money in my saved time on that process than the realtor did on their efforts.

Research on the percentage of businesses that survive or fail in the first 5 years is vague, but it has been stated the failure rate in the first 5 years is anywhere from 50% to 80% (and upward for some industries). So we'd like to say to a friend who is starting their own business "Are you nuts?!?!"
But like me, maybe they will find success. There is always a risk involved.

I've read the disclosures on each of the Invention/Patent companies I'm considering. From what I've read, it does appear there is a decent percentage of invention submissions who are not offered a contract or further services.

In my case, I'm willing to take the risk and use an invention company for the following reasons:
- By the time I get around to doing all of the research and work myself, someone else may have developed the same product
- My success or failure odds on getting my ideas developed or making them marketable are probably worse that an experienced company
- If I turn my projects over to a company, I can still concentrate on my business and make a living. Then if my investment amounts to nothing, I won't feel as bad :wink: !

I will check out the Big Idea Group you mentioned - hadn't run across their name in my previous search.

Thanks for your advice and comments. I wish there was a survey out there that gauged the percentage of people who went into this process with their eyes wide open!

Re: Has Anyone [worked with Innovative Licensing and Promoti

Postby Roger Brown » Tue Sep 28, 2010 6:04 am

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Ideachick, just remember paying them for their services is only good if you have done your homework up front. To many Inventors don;t research their idea enough to make sure it isn't already patented or on the market. I get contacted regularly by Inventors that swear they researched their idea and their is nothing out there like their idea. 10 minutes on the internet and I have found their idea and they are stunned it is already on the market. Another issue is they forget a fundamental truth which is "a patent does not equal marketable" Less than 3% of patented items make it to store shelves. Why? Because a patent mean it is unique not people will buy it. An example I use a lot is edible sneaker. You could patent it, but would anyone actually buy them?
Invention submission companies make the bulk of their profit from selling people services not off of royalties of products produced and licensed. Doing your legwork up front helps keep you from wasting your money on an idea that is destined to fail from the beginning. You say it is worth it to have someone else do it all for you and in your case that is fine if you have the money to lose. Most people want to get somethiing back for their investment other than a report in a nice binder.
Come visit my sites at http://www.RogerBrown.net
or http://www.looking2license.com
I have gotten 9 products licensed spending less than $100 on each, you can too.