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Montel Williams search for the next Great Gadget
by ideagirl » Fri Oct 12, 2007 8:58 am
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ideagirl - Green Belt
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Montel Williams is having an invention contest, in conjunction with Strong Ideas Corp. He is looking for the next great gadget. Deadline is 12 Dec 07
www.gadgetalert.com
1st prize is $10,000. And if they manufacture and sell your product, they will give 5% royalties. You are not allowed to have already had your product manufactored. Winner and finalists will be flown to the studio to be on Montel's show.
I can't wait till all the experts here analyze this contest, and let us know if it's a good opportunity or not.
www.gadgetalert.com
1st prize is $10,000. And if they manufacture and sell your product, they will give 5% royalties. You are not allowed to have already had your product manufactored. Winner and finalists will be flown to the studio to be on Montel's show.
I can't wait till all the experts here analyze this contest, and let us know if it's a good opportunity or not.
by ideagirl » Fri Oct 12, 2007 11:05 am
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ideagirl - Green Belt
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You just click on Montel's picture. But here's another way.
www.gadgetuniverse.com/montel/
www.gadgetuniverse.com/montel/
by Work2XL » Fri Oct 12, 2007 12:07 pm
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Work2XL - Blue Belt
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I'll save you the trouble guys. You can start by shooting holes in this direct quote from the rules section.
"All entries shall forever be the property of the Sponsor. Sponsor will not treat any entry as confidential or proprietary, and will not be liable for use of any idea in its business. However, if Sponsor decides, in its sole discretion, to manufacture a product based upon an idea contained in an official entry submitted within the Contest Period, it will pay the entrant a royalty of five percent (5%) of net income from sale of product, less taxes and returns. For any product to be manufactured, entrant agrees to provide truthful information as to its development, and sign any paperwork necessary to obtain a patent, which will be owned by Sponsor. Entrant agrees, if paid a royalty by Sponsor, that Sponsor will be the sole manufacturer of products based upon the idea submitted."
Ding, Ding. Round 4
My problems:
1) All entries owned by sponsor. Define "entries". Ideas or Materials.
2) "Sponsor will not treat any entry as confidential" Public Disclosure = no foreign patent rights.
3) "will not be liable for use of any idea in its business" Good or bad representation on show even if they don't use the idea.
4) "if Sponsor decides, in its sole discretion, to manufacture a product based upon an idea." You lose any exclusive rights.
5) "and sign any paperwork necessary to obtain a patent, which will be owned by Sponsor" They own the patent and can sell, abandon, or go bankrupt and you get nothing and have no recourse.
6) "Entrant agrees, if paid a royalty by Sponsor, that Sponsor will be the sole manufacturer of products" See #5.
Again, 5% of something is better than 100% of nothing. I just wouldn't hand over "my baby" in this situation. But I would consider one from my notebook that I would never get around to. (Like the windmill on the highway median)
Randy
"All entries shall forever be the property of the Sponsor. Sponsor will not treat any entry as confidential or proprietary, and will not be liable for use of any idea in its business. However, if Sponsor decides, in its sole discretion, to manufacture a product based upon an idea contained in an official entry submitted within the Contest Period, it will pay the entrant a royalty of five percent (5%) of net income from sale of product, less taxes and returns. For any product to be manufactured, entrant agrees to provide truthful information as to its development, and sign any paperwork necessary to obtain a patent, which will be owned by Sponsor. Entrant agrees, if paid a royalty by Sponsor, that Sponsor will be the sole manufacturer of products based upon the idea submitted."
Ding, Ding. Round 4
My problems:
1) All entries owned by sponsor. Define "entries". Ideas or Materials.
2) "Sponsor will not treat any entry as confidential" Public Disclosure = no foreign patent rights.
3) "will not be liable for use of any idea in its business" Good or bad representation on show even if they don't use the idea.
4) "if Sponsor decides, in its sole discretion, to manufacture a product based upon an idea." You lose any exclusive rights.
5) "and sign any paperwork necessary to obtain a patent, which will be owned by Sponsor" They own the patent and can sell, abandon, or go bankrupt and you get nothing and have no recourse.
6) "Entrant agrees, if paid a royalty by Sponsor, that Sponsor will be the sole manufacturer of products" See #5.
Again, 5% of something is better than 100% of nothing. I just wouldn't hand over "my baby" in this situation. But I would consider one from my notebook that I would never get around to. (Like the windmill on the highway median)
Randy
Montel
by Roger Brown » Sat Oct 13, 2007 9:52 pm
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Roger Brown - Black Belt
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Whatever happened to the contests that used to state "if your idea is not selected as a finalist all rights revert back to the Inventor." I agree, if you were to enter this contest I would not do it with your A level ideas.
Also keep in mind what people ran into with the Oprah/QVC contest. They were not looking for the next great life saving idea or change the world type idea, but more mass marketable.
Also keep in mind what people ran into with the Oprah/QVC contest. They were not looking for the next great life saving idea or change the world type idea, but more mass marketable.
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.
or http://www.looking2license.com
I have gotten 9 products licensed spending less than $100 on each, you can too.
by mojo62 » Sun Oct 14, 2007 5:22 am
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mojo62 - Black Belt
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Does anyone know of any legit or good invention contest from the past ?
Who won and with what ?
What did the winner get ?
Are any invention contest good ?
Does an invention worthy of winning a contest need to be in a contest in the first place ?
MO
Who won and with what ?
What did the winner get ?
Are any invention contest good ?
Does an invention worthy of winning a contest need to be in a contest in the first place ?
MO
by Contextion » Sun Oct 14, 2007 6:40 am
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Contextion - Blue Belt
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Ive always thought Montel to be the kind of guy to lookout for his viewers. Surely he wouldnt hold an argument that the rules are fair. He probably will change the rules so not to risk being called out on another talk show and lose his credentials.
Montel usually busts the scammers - but will he bust himself?
His psychic just got busted. http://www.youtube.com/watch?v=hRc4LkBRjIc
Montel usually busts the scammers - but will he bust himself?
His psychic just got busted. http://www.youtube.com/watch?v=hRc4LkBRjIc
by X900BattleApple » Mon Oct 15, 2007 7:56 am
- X900BattleApple
- White Belt
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This one sounds aweful. All the Sponsor has to do is make your idea available to another company they're partnered with or setup themselves and then have that 2nd party manufacture, then you'll lose even the meager 5% on production based on your idea.
Unless I'm missing some key bit of info, this contest is one that I'd say is not looking out for the inventor at all.
Unless I'm missing some key bit of info, this contest is one that I'd say is not looking out for the inventor at all.
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