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Entering a inventing contest,are you crazy?
by StephenKey » Tue Apr 07, 2009 9:13 am
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StephenKey - Blue Belt
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So you have a great idea and you want to bring it to market. you can neither do all the work yourself, or submitted your idea/invention to a contest, are you nuts? I've noticed lately there are more and more contests for inventions, I know at first this seems like a good idea, but reality submitting your idea to a company its not hard at all. I'll give you an example, Lifetime Brands a kitchen and housewares company,one of the largest is looking for kitchen inventions. It's no surprise, because of the economy people are staying home and cooking more. At Lifetime Brands they bring over 4000 new items a year.WOW! Warren Tuttle is a product scout for Lifetime Brands, his telephone number is 203-594-8808 his e-mail address is http://www.wtuttle@yahoo.com, and he is looking for ideas/inventions, THAT'S HIS JOB. Now EN, has been running a contest with Lifetime Brands, where you pay $25 to enter. What's crazy here, people/customers/inventors have entered this contest and are waiting to see if they get selected. If they are not selected they are notified, what's frustrating, there's no feedback on why it was not selected, they have not built a relationship with that company/lifetime brands. All they would have to do is to contact Warren and submit your idea/invention have . What's truly amazing is that he has over 30 years of experience in this particular industry and he will help you refine your idea, he will give you the feedback,and introduce you to the right people over a Lifetime Brands. So why enter a contest, anyone can contact these companies, build a relationship, get the feedback that's required for success. One last thing, I believe you share your royalties with EN.
Award Winning Inventor Stephen Key - http://www.inventright.com
Stephen's new book "One Simple Idea" from McGraw-Hill is available in stores nationwide as well as online.
Stephen's new book "One Simple Idea" from McGraw-Hill is available in stores nationwide as well as online.
Re: Entering a inventing contest,are you crazy?
by rather-be-golfing » Tue Jul 21, 2009 9:06 am
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rather-be-golfing - Green Belt
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Hi Stephen,
I just happened to stumble across a new 'product search contest' that is perfect for a product that I have under development. Your comments are exactly what I was thinking....why involve EN? It seems as though some of these companies are filtering submissions through this process. I suppose that they do not care where it comes from as long as they get to see it and there is probably a lot of 'cr*p' that would cross their desks without this.
So I have a product that is perfect for the new Bed Bath and Beyond's search....would you happen to have a contact there?!?!
I have had great success getting contacts with most companies but the ones that associate with EN direct you to EN for submissions. (Spencers, BB&B etc)
Thanks,
RBG
I just happened to stumble across a new 'product search contest' that is perfect for a product that I have under development. Your comments are exactly what I was thinking....why involve EN? It seems as though some of these companies are filtering submissions through this process. I suppose that they do not care where it comes from as long as they get to see it and there is probably a lot of 'cr*p' that would cross their desks without this.
So I have a product that is perfect for the new Bed Bath and Beyond's search....would you happen to have a contact there?!?!
I have had great success getting contacts with most companies but the ones that associate with EN direct you to EN for submissions. (Spencers, BB&B etc)
Thanks,
RBG
Re: Entering a inventing contest,are you crazy?
by mojo62 » Wed Jul 22, 2009 11:36 pm
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mojo62 - Black Belt
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And how good are they at picking out the real winners? You really have to question that when you see some of the stuff they
attempted to market. Idea girl's shoe storage was pretty good though.....MO
attempted to market. Idea girl's shoe storage was pretty good though.....MO
Re: Entering a inventing contest,are you crazy?
by StephenKey » Thu Jul 23, 2009 1:08 pm
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StephenKey - Blue Belt
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RBG, there are thousands of companies looking for ideas." Open innovation" has changed the way companies are developing new products. This is great news, companies like EN and Big Idea Group are acting like a filtering system. I would wait until the contest/product search is over, then contact them directly. If En was sincerely looking for innovation to license they would look outside their forum. Most of the people on their forum are new to inventing, and since they "EN" doesn't educate or provide feedback , I feel their business model is not in the best interest of the company's seeking innovation or their gold members. Giving one retailer an exclusive unless it's Wal-Mart is insane. If the product makes it to market and even sells well the chances of making large dollars is slim.
Award Winning Inventor Stephen Key - http://www.inventright.com
Stephen's new book "One Simple Idea" from McGraw-Hill is available in stores nationwide as well as online.
Stephen's new book "One Simple Idea" from McGraw-Hill is available in stores nationwide as well as online.
Re: Entering a inventing contest,are you crazy?
by rather-be-golfing » Fri Jul 24, 2009 12:32 pm
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rather-be-golfing - Green Belt
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Stephen,
I took a look at the royalty rates and see that EN takes 50%! Why would you give up 50% to some agent that keeps you away from the customer. It is actually a pretty good marketing deal for EN as they get hundreds of clients without appearing as an invention submission company and the sponsors don't care who they pay.
I sent inquiries to a few people at BB&B indicating that I have an appropriate product for their search but that I have no intention of submitting it through EN as I do not require their assistance and if they don't accept ideas directly, then I will go to their competitors.
I'll see how they react to that.
I wonder if they have a contract that keeps EN in the loop throughout the contest and prevents direct submissions?
On the other hand, I see that you can pull your idea anytime prior to the final stage. Might be worth entering....get to stage 7 and then pull it and wait for them to come to you? Sure it costs $25 but you get the opportunity to 'use them' for a while which might be fun.
RBG
I took a look at the royalty rates and see that EN takes 50%! Why would you give up 50% to some agent that keeps you away from the customer. It is actually a pretty good marketing deal for EN as they get hundreds of clients without appearing as an invention submission company and the sponsors don't care who they pay.
I sent inquiries to a few people at BB&B indicating that I have an appropriate product for their search but that I have no intention of submitting it through EN as I do not require their assistance and if they don't accept ideas directly, then I will go to their competitors.
I'll see how they react to that.
I wonder if they have a contract that keeps EN in the loop throughout the contest and prevents direct submissions?
On the other hand, I see that you can pull your idea anytime prior to the final stage. Might be worth entering....get to stage 7 and then pull it and wait for them to come to you? Sure it costs $25 but you get the opportunity to 'use them' for a while which might be fun.
RBG
Re: Entering a inventing contest,are you crazy?
by rather-be-golfing » Tue Aug 04, 2009 9:39 pm
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rather-be-golfing - Green Belt
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Stephen,
Please check your PM's.
RBG
Please check your PM's.
RBG
Re: Entering a inventing contest,are you crazy?
by MOPAR78 » Sun Sep 20, 2009 3:48 pm
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MOPAR78 - Blue Belt
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Entering a inventing contest,are you crazy? If you sign away... Yes!! 
Re: Entering a inventing contest,are you crazy?
by rather-be-golfing » Sun Sep 20, 2009 5:42 pm
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rather-be-golfing - Green Belt
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According to the rules at EE, you have no choice but to accept their terms once you pass a certain point.
Re: Entering a inventing contest,are you crazy?
by Gizmo » Mon Sep 21, 2009 3:26 am
- Gizmo
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I think EE'S agreement is really one sided. Ive read in there forums your idea isnt considered public discloseure. I would bet when push came to shove it is. Theres nothing in the agreement that states its not.
Re: Entering a inventing contest,are you crazy?
by jackbnimble56 » Mon Sep 21, 2009 5:35 am
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jackbnimble56 - Brown Belt
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Okay I give up, What's "EN" and "EE"? Sorry if my question sounds clueless...
Jack
Jack
Nimble Jack Enterprises - Innovative Solutions to Everyday Problems
To purchase the Magic Toob product visit: http://www.magictoob.com/
To purchase the Magic Toob product visit: http://www.magictoob.com/
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