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by makeworldbetter » Thu Mar 20, 2008 9:11 am
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makeworldbetter - Black Belt
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Don't you like walk away with a deal? Rather than selected now and fail to make to the final later?
I just hope I will make to the final
I just hope I will make to the final
80 what? And percentage question
by cejela » Thu Mar 20, 2008 1:56 pm
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cejela - Yellow Belt
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Hi Idea Girl,
I wanted to say hi earlier but could not find a way to connect privately to say thanks for the support and all in dallas.
The comments about the maybe another company could do a deal brought up some questions for me. If they find ideas they like outside the show, do they have to wait till the July date to contact you or before?
and... What is the 80 mean? 80 people from what...?
do they only pick 80 ideas from the cities to decide from?
Someone else posted that the Ed nation site will review your idea outside the show for 75 bucks if you have a protype and if they like it they too might bring it to market, like the show does without the TV stuff.
another question about the payout royalty. I see they say 5% net after expenses... I could see why that is so, but I guess the other company deals I have heard of before they say a percentage of the wholesale price and do not mention the net part. Also, does that mean you pay all the costs from your end to bring it to market before you get any money? So if it cost them 10 million to bring it to market, you get 5% after that is paid? Yiikes...that could be a long time to recover from? Of course I do not mean to sound greedy, just wondering how it works.
I wanted to say hi earlier but could not find a way to connect privately to say thanks for the support and all in dallas.
The comments about the maybe another company could do a deal brought up some questions for me. If they find ideas they like outside the show, do they have to wait till the July date to contact you or before?
and... What is the 80 mean? 80 people from what...?
do they only pick 80 ideas from the cities to decide from?
Someone else posted that the Ed nation site will review your idea outside the show for 75 bucks if you have a protype and if they like it they too might bring it to market, like the show does without the TV stuff.
another question about the payout royalty. I see they say 5% net after expenses... I could see why that is so, but I guess the other company deals I have heard of before they say a percentage of the wholesale price and do not mention the net part. Also, does that mean you pay all the costs from your end to bring it to market before you get any money? So if it cost them 10 million to bring it to market, you get 5% after that is paid? Yiikes...that could be a long time to recover from? Of course I do not mean to sound greedy, just wondering how it works.
by ideagirl » Thu Mar 20, 2008 2:22 pm
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ideagirl - Green Belt
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The 80 people were from the finalists from last season, is what I heard it to be. I'm sure that Everyday Edison does all the legal legwork, then picks their 12, then the rest are available to their retailer contacts. Nothing happens fast in the inventing world, so don't expect anything soon! I'm guessing on this. But it does look to me, that since they are an invention development company they are looking at the big picture, and working with retailers is a big part of that. Louis is also on a committee for the patent agency, so he has important contacts and imput there. Yes he does review and develop inventions thru his company. I specially asked him this question when I talked to him at the Working Inventor's week-end. He will
also work with inventors and building prototype I believe. His company does the full range- and can be hired to do most anything. So I really feel that EE is a good company, with good goals, and is trying to promote inventions as well. As far as the payment, I have to confess I didn't look at it really close. For me, it's not about the money. Normally
the royalty is based on profits, not sales. Develpment costs will all come out of the profits- as it should.
also work with inventors and building prototype I believe. His company does the full range- and can be hired to do most anything. So I really feel that EE is a good company, with good goals, and is trying to promote inventions as well. As far as the payment, I have to confess I didn't look at it really close. For me, it's not about the money. Normally
the royalty is based on profits, not sales. Develpment costs will all come out of the profits- as it should.
by ideagirl » Thu Mar 20, 2008 2:23 pm
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ideagirl - Green Belt
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The 80 people were from the finalists from last season, is what I heard it to be. I'm sure that Everyday Edison does all the legal legwork, then picks their 12, then the rest are available to their retailer contacts. Nothing happens fast in the inventing world, so don't expect anything soon! I'm guessing on this. But it does look to me, that since they are an invention development company they are looking at the big picture, and working with retailers is a big part of that. Louis is also on a committee for the patent agency, so he has important contacts and imput there. Yes he does review and develop inventions thru his company. I specially asked him this question when I talked to him at the Working Inventor's week-end. He will
also work with inventors and building prototype I believe. His company does the full range- and can be hired to do most anything. So I really feel that EE is a good company, with good goals, and is trying to promote inventions as well. As far as the payment, I have to confess I didn't look at it really close. For me, it's not about the money. Normally
the royalty is based on profits, not sales. Develpment costs will all come out of the profits- as it should.
also work with inventors and building prototype I believe. His company does the full range- and can be hired to do most anything. So I really feel that EE is a good company, with good goals, and is trying to promote inventions as well. As far as the payment, I have to confess I didn't look at it really close. For me, it's not about the money. Normally
the royalty is based on profits, not sales. Develpment costs will all come out of the profits- as it should.
by makeworldbetter » Thu Mar 20, 2008 2:23 pm
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makeworldbetter - Black Belt
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Hi cejela
I believe 80 means Everyday Edison picked 80 ideas at season 1 to be consider for final selection, just like ours. Within those 80 ideas, only 14 made to final show. Season 2 they pick maybe 50 and 12 became final.
Since we are on to-be-considered list, we should just wait. I don't believe if you submit to Ed nation, you will be fast tracked.
I believe 80 means Everyday Edison picked 80 ideas at season 1 to be consider for final selection, just like ours. Within those 80 ideas, only 14 made to final show. Season 2 they pick maybe 50 and 12 became final.
Since we are on to-be-considered list, we should just wait. I don't believe if you submit to Ed nation, you will be fast tracked.
by makeworldbetter » Thu Mar 20, 2008 5:01 pm
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makeworldbetter - Black Belt
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Just received an email from EE, they are asking me for copy of patent application
what was said
by ideasthings » Thu Mar 20, 2008 5:36 pm
- ideasthings
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what was said is that when they are through with all casting calls, they went back and reviewed all of them and decided which ones (12-14)are best suited for the show, and then the companies..(their contacts) chose to purchase some of the ideas, that weren't exactly right for the show, but still a potentially good product. The number 80 was what happened to be the amount that got chosen, this casting call there could be none? I was just trying to give some hope to those of us who made it through.
PPA question
by cejela » Thu Mar 20, 2008 6:23 pm
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cejela - Yellow Belt
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I submitted my paperwork, which at one time they said the could not find for my PPA when I was getting my yes'es at teh filming. It was seperated from the papers they had where I stated I did have one but made changes to the design and was going to send in another. My question is ...do they get a copy from the patent office of the one I submitted and see the specs somehow or do they need me for that. I sent in another one too to cover more bases...do I need to notify them of this too?
If so how?
thanks
If so how?
thanks
by makeworldbetter » Thu Mar 20, 2008 7:19 pm
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makeworldbetter - Black Belt
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nothing good or bad. Their paper work required patent number (if available).
I filled in mine, yet it's far from 18 months time that USPTO would take to publish it. So they have to ask me to send them a copy. It only shows they are moving things around.
I filled in mine, yet it's far from 18 months time that USPTO would take to publish it. So they have to ask me to send them a copy. It only shows they are moving things around.
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