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Re: Don't be too quick to judge
by Patent_Attorney » Thu Oct 16, 2008 6:13 pm
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izzymay wrote:Remember this: The company that wants to license your invention wants to pay you the least amount of royalty so they can pocket the rest. Invention Home wants you to have the highest royalty possible because they make a percentage of what you make. it wouldn't make any sense for them to try to negotiate a low royalty for you. It's common sense.
Don't believe completely in the patent attornies either. From my experience, they over charge you to file the same paper work. They are as much scam artists as some of the other scamming invention companies out there. Don't even try to tell me the patent attorny you hired wasn't trying to sugar coat his services and make money from you. It will cost you more money to work with the attorney than Invention Home. On top of that, the attorny only files patents. They won't do anything to market the invention. Talk about taking your money and run.
A lot of people take their anger and frustration out on Invention Home because their invention is not making any money. Do your research and you'll see that they have great rating with BBB and other invention associations. I had a great experience with them because I had an open mind and I did my research. I understand that thay are just an agent that will do their best to pursue on my behalf (so they can make money too!) Some of the other inventors that leaves nasty posts should do so as well. They tend to exaggerate their experiences to make them sound worse than they are. Not everyone can make money from their ideas because there are just too many out there.
You have to do research and choose a patent attorney wisely. How hard is it to write a letter to a company selling the product/service of the patented product. If you are that lazy you deserve what you get. Every inventor successful at making money I have dealt with spent their time sending info to potential licensees and not waited for the cash to magically appear.
by Boom Man » Thu Oct 16, 2008 6:53 pm
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Every inventor successful at making money I have dealt with spent their time sending info to potential licensees and not waited for the cash to magically appear.
Yes sir, but this is a paradox. The ironic thing is that you never truly know when companies want to hear from you despite what they say. There is the thoery that you should immeadiately atart approaching companies as soon as your patent is pending.
Other thoeries that say wait until you receive an issued patent...
by Patent_Attorney » Fri Oct 17, 2008 5:25 am
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Boom Man wrote:Every inventor successful at making money I have dealt with spent their time sending info to potential licensees and not waited for the cash to magically appear.
Yes sir, but this is a paradox. The ironic thing is that you never truly know when companies want to hear from you despite what they say. There is the thoery that you should immeadiately atart approaching companies as soon as your patent is pending.
Other thoeries that say wait until you receive an issued patent...
With a PROPERLY written provisional (a utility application with complete drawings, but without claims as stated by MPEP) then you can approach a licensee and if properly negotiated can get payment of the prosecution arranged.
If the Licensee sees a turd provisional with no support obviously filed by an amerature or by a low skilled attorney for $150 then you get what you pay for and they will not take you serious and likely not negotiate.
To assuage the fear in a licensee you must convince them that they are not buying a pig in a poke. A professional patentability opinion (element by element breakdown with search by elements) and a discussion of why it is patentable over both obvious and anticipation rejections is a good start in combination with a professionally written provisional.
Negotiations are all about trust. A poor presentation is a big preventor of deals going forward. An invention submission company is a license to fail.
by Ihomeinnovator » Fri Nov 28, 2008 1:19 pm
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Ihomeinnovator - White Belt
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You really have to do research with patent attorneys. But don't go just by price but by the work done. Often when a patent attroney is in agreement to research for a specific invention company the patents can be done at a much reasonable price because of volume. A patent company can quickly get flooded with patent research because of the sudden international exposure.
Just to clarify and not convince and market. Our patent firm is
James Ray & Associates
2640 Piticairn Road
Monroeville, Pa 15146
888-692-7303
or
jray@jrayassoc.com
Hopefully if you have andy more specific questions they can answer it for you and give you a detail of the scope of their search...
You really have to look over the search as well, good or bad. Too many people come back with over 25 completely similar ideas in utility and function but move ahead...maybe they think theirs is more flashy or economical but the problem that the invention solves is #1 on a manufacturers check list...
Just to clarify and not convince and market. Our patent firm is
James Ray & Associates
2640 Piticairn Road
Monroeville, Pa 15146
888-692-7303
or
jray@jrayassoc.com
Hopefully if you have andy more specific questions they can answer it for you and give you a detail of the scope of their search...
You really have to look over the search as well, good or bad. Too many people come back with over 25 completely similar ideas in utility and function but move ahead...maybe they think theirs is more flashy or economical but the problem that the invention solves is #1 on a manufacturers check list...
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