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Evergreen IP

Postby Average Inventor » Sat Apr 28, 2007 1:56 pm

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I thought since there has been a lot of buzz about this company lately there should be a dedicated thread. I would like to see a clear definition of what they are. What they look for and who has used them. I have only heard great things and although none of the ideas I have sent them have fit what they speicalize in they have been extremely professional and curtious and I will continue to send them ideas with the hopes there will be a good fit in the future. Please post all info pertaining to Evergreen IP here so future readers can have a one stop shop for all info relating to this fantastic company.

Postby Road Show » Sat Apr 28, 2007 4:05 pm

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My thoughts on this are mixed. I know that they are spoken highly of by Doug Hall, who has had a relationship with Evergreen for a number of years. There is no doubt in my mind that one who is interested in having someone else do all the legwork, and carry the financial load, to get their product idea licenced, that this is a company worth contacting.

My issue is this...why settle for crumbs? A licensing deal is generally only 3-5% of the wholesale value of a product, which might be 1/6th of the retail value. If a product produces 10 million in retail sales, it might not even be attractive to Evergreen, but let's say it is. They would receive 5% of $1,666,666.00, or $83,333.00, and the inventor would get what? Maybe 40% best case scenario? That is $33,333.00. Now you're probably saying, "what's wrong with $33,333.00 per year?" Nothing really. There is a finite number of good ideas that any given individual will have in their lifetime. Most will have fewer than they can count on one hand. Guys like Roger Brown have ideas till the cows come home, but he is not typical. My point is this, if you have an idea that you believe in wholeheartedly, why squander the opportunity and the dream? Although $33,333.00 sounds attractive, $83,333.00 can mean not having to work. Why not listen to guys like Roger Brown, and make the most of submitting your ideas directly to manfacturers yourself? Chances are, Evergreen will not be interested in an opportunity that has only a $50,000.00 per year potential. You better be pretty darn sure you can deliver much more than that because your true competition is all the other ideas they consider that have a potential to earn them royalties in the hundreds of thousands of dollars or more.

I'm not saying not to submit ideas to them. I am suggesting that someone should at least look at what they are giving up versus what they stand to gain by just doing some of the dirty work themself. Who knows...maybe that big idea will mean the difference between really enjoying life, and settling for crumbs.

RSG

Postby Average Inventor » Sat Apr 28, 2007 4:48 pm

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Road Show,

I see your point and I believe you have backed it up with realistic projections and examples. I think this option is very good for some however who like Roger Brown have a ton of ideas or unlike you don't have the drive to get their idea on the market. Many inventors on here came up with an idea with American inventor in their sights and once they are tuned down there they drop their idea entirely because they don't have the confidence or time or support to get the invention on the market. Evergreen IP doesn't take 60% like to use in your example though. Last time I checked they take 25% of your royalties so from your numbers the inventor would profit about $62,500/yr from a product that grosses 10 mil in retail sales.

Postby Road Show » Sat Apr 28, 2007 5:15 pm

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Average Inventor,

If the split is 25/75 in favor of the inventor, my point is all the more well taken. Consider that someone with a company that is investing their time, money and talent to take products to market, who is willing to give up 75% of the royalties, but still has income goals for their projects, the idea is going to have to gross even more than in my previous example.

Say that the idea must return THEM a minimum of $250,000.00 in royalties to even get them interested. That means that $1,000,000.00 in royalties would have to be realized, meaning that, at retail, the product must produce revenues of $120,000,000.00 to be considered. How in the world is someone who doesn't have drive and passion going to convince Evergreen to take the necessary risks on their idea?

Someone with the mentality of waiting for another to butter their bread is better off walking away, because they are just waiting to be taken advantage of. I'm not saying this to be mean...I want people to be realistic and find the passion inside to get it done in a way that will reward them. I believe that most people who dream of better things ARE passionate people...they just need to find someone to show them the way, not use them. Listen to guys here like Roger Brown. For good Patent advice, listen to Scrupulous (Ken). And, above all, don't waste a lot of time...opportunities do not stay open forever.

RSG

Contacts at Evergreen

Postby Michelle » Sun Apr 29, 2007 7:50 am

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If anyone has a contact at Evergreen, I'd appreciate you letting me know.

We contacted them several months ago, to try to get them listed in our Inventor Resources page and they never responded.

If anyone could put up a good word for us with them, that would be awesome. If you have a real contact and email, that would be great too.

Thanks,

Michelle

Postby Contextion » Sun Apr 29, 2007 7:45 pm

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my response from evergreen was:

I think you've hit upon a good problem, but there are many other
alternative ******* (many powered and using *******) that
create the same effect as your product. At this time we're going to
pass on partnering with you on your invention.

I would suggest you check out www.inventright.com and www.uiausa.org
for some additional resources. It's possible some of the InventRight
stuff could be a great value to you.

I wish you great luck and please keep us in mind for future inventions!

-J

They said it usually takes around 2 weeks to get back to you but they let me know in 1 week.

Who are the next runner ups to submit your idea to?

Postby Michelle » Sun Apr 29, 2007 8:05 pm

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Contextion wrote:my response from evergreen was:

I would suggest you check out www.inventright.com and www.uiausa.org
for some additional resources. It's possible some of the InventRight
stuff could be a great value to you.


So how long will it take and what will it take for these companies to acknowledge we exist? Sigh. :cry:

Postby Average Inventor » Sun Apr 29, 2007 8:57 pm

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Contextion,

Sorry to hear your product wasn't a good fit for Evergreen IP. It does seem however they did some research and gave their reasons as to why they wished to pass on your idea which is much better then most. In fact most companies would say "your product is the best thing we have ever seen" and then ask for money. Sometimes objective input is very valuable in determining where to go next and who to approach.

Postby Average Inventor » Sun Apr 29, 2007 9:00 pm

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Michelle,

I'd be willing to bet they will be taking notice of this forum in the coming weeks and don't require further prodding :) There is a lot of favorable recommendations for them from many members so I think they will find it in their best interest to better hone in and explain what they do and what they are looking for so they get more targeted submissions and more successful products.

Thanks for Your Interest

Postby DBayless » Thu May 10, 2007 7:46 am

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Average Inventor wrote:I'd be willing to bet they will be taking notice of this forum in the coming weeks and don't require further prodding...


As a result of Average Inventor's encouragement, I've made the move from lurker to forum member. Thanks for the prod :wink:

I've been thinking about the best way for my partners at Evergreen IP and me to contribute broadly to this community of inventors. On the one hand, our investment focus is fairly narrow and our capacity is unavoidably constrained. Consequently, we are only able to partner with 1% of the inventors who approach us with their ideas. That's not necessarily a reflection of the quality of ideas we see. Rather, the ratio is a consequence of the need for a precise fit and our assessment of whether we can help to appreciably change the odds of success. On the other hand, we, too, wrestle with the challenges of commercializing demonstrably new and different consumer products. Like the rest of you in this forum, we have to decide how best to invest our limited time, money, and relationships toward developing sufficient patent protection, market validation, and evidence of economic manufacturability in a wildly uncertain environment. I'd like to think that we have much to share. I'm very confident that we have much to learn.

It may be that the best way we can contribute to this conversation is as peers. If, in the process, we can uncover collaboration opportunities, so much the better.

For those who are primarily interested in our investment philosophy, I recommend our website, John Funk's blog, The View from the Bridge, or my blog, Dispatches from the Frontier.

P.S. - Michelle, before the day is out, I'll add InventorSpot.com to our resources web page.
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