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Re: InventHelp.com Scam article
by jimdebetta » Tue Nov 09, 2010 7:31 am
- jimdebetta
- White Belt
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- Joined: Mon Nov 08, 2010 12:44 pm
I am not commenting on any one company or situation....just read what I wrote, what Roger (my friend) wrote, and understand that lots of inventors cry foul and get way too emotionally attached to their invention and if it fails for any reason they must assign blame to others....but yes companies must be held to standards like any other industry.....
Re: InventHelp.com Scam article
by Let-Them-Fly » Tue Nov 09, 2010 12:04 pm
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Let-Them-Fly - Yellow Belt
- Posts: 54
- Joined: Thu Oct 21, 2010 9:29 pm
- Location: North Carolina
Hi Jim,
Indeed, sometimes it gets pretty scary for me too, LOL, and I've been at it for 28 years!
Jim & Roger & Giz,
I foolishly employed the services of a well known invention submission company after thinking I had come upon a novel device and method for performing a certain function of the embalming process. I researched some, but not enough; which was totally my fault. Below is the sequence of the events that followed:
(1) The invention submission company charged $169 to do an evaluation. (no problem)
(2) One week later a VERY enthusiastic member of the company contacted me via telephone and reported he had discovered web post of a similiar idea but it hadn't been filed on, so "we need to move fast with this or someone else is going to reap the millions of dollars it's worth!"
(3) The agent said he needed $600 to file the idea, "which will insure it's in YOUR name!"
(4) One week later I got another call stating my idea had been prototyped, tested, and "we compiled a Presentation Kit and we're not going to charge you for that because we KNOW this is going to be a winner!" "In order for us to have a Presentation we must market the concept so we can determine the most lucrative path... doing that will be $6,500, BUT, you will make this back the first week it's in the market!"
(5) One month later, another phone call stating they had located two manufacturers who were "desperate" to get the technology and said they needed a final installment of $5,000. "The next time you hear from us, we'll have a big, fat, advance check and license agreement... congratulations Mr. White, you made it!!!"
(6) Two months later, after repeated attempts at contact them, I got a registered letter stating that attorneys with the manufacturing company discovered the idea had already been protected.... oh yes, and they told me they were very sorry.
Yes, had I researched like I should have, all this could have been avoided, however, I'm certain the invention submission company knew soon after I employed them that the concept was already protected, but instead of informing me and keeping the $169, they purposefully constructed lies in order to milk more money from me. They never made a prototype, marketed it, made a presentation kit, or showed it to anyone... I realized I had been scammed and also FINALLY realized I set my own self up for it. Stupid me. I consulted an attorney who asked to see the correspondence... all I had was the rejection letter which stated the real reason they couldn't help me. I told him about all the money and promises and he smiled and said "Let me guess, all that was taken care of on the telephone, right?"
I should have known better, BUT, the $12,100 was taken under false pretenses! That's not "business" or "the way it is"... that's Embezzlement! Now, had they honestly prototyped and tested and contacted and traveled and negotiated, and it still flopped, by all means, they EARNED their fees honorably and the inventor should have no complaint.
I know my money is gone, and I also know the company has become wealthy doing like deals with inventors, but the whole point is that there should be career/business changing legal ramifications when things like this happen.
Indeed, sometimes it gets pretty scary for me too, LOL, and I've been at it for 28 years!
Jim & Roger & Giz,
I foolishly employed the services of a well known invention submission company after thinking I had come upon a novel device and method for performing a certain function of the embalming process. I researched some, but not enough; which was totally my fault. Below is the sequence of the events that followed:
(1) The invention submission company charged $169 to do an evaluation. (no problem)
(2) One week later a VERY enthusiastic member of the company contacted me via telephone and reported he had discovered web post of a similiar idea but it hadn't been filed on, so "we need to move fast with this or someone else is going to reap the millions of dollars it's worth!"
(3) The agent said he needed $600 to file the idea, "which will insure it's in YOUR name!"
(4) One week later I got another call stating my idea had been prototyped, tested, and "we compiled a Presentation Kit and we're not going to charge you for that because we KNOW this is going to be a winner!" "In order for us to have a Presentation we must market the concept so we can determine the most lucrative path... doing that will be $6,500, BUT, you will make this back the first week it's in the market!"
(5) One month later, another phone call stating they had located two manufacturers who were "desperate" to get the technology and said they needed a final installment of $5,000. "The next time you hear from us, we'll have a big, fat, advance check and license agreement... congratulations Mr. White, you made it!!!"
(6) Two months later, after repeated attempts at contact them, I got a registered letter stating that attorneys with the manufacturing company discovered the idea had already been protected.... oh yes, and they told me they were very sorry.
Yes, had I researched like I should have, all this could have been avoided, however, I'm certain the invention submission company knew soon after I employed them that the concept was already protected, but instead of informing me and keeping the $169, they purposefully constructed lies in order to milk more money from me. They never made a prototype, marketed it, made a presentation kit, or showed it to anyone... I realized I had been scammed and also FINALLY realized I set my own self up for it. Stupid me. I consulted an attorney who asked to see the correspondence... all I had was the rejection letter which stated the real reason they couldn't help me. I told him about all the money and promises and he smiled and said "Let me guess, all that was taken care of on the telephone, right?"
I should have known better, BUT, the $12,100 was taken under false pretenses! That's not "business" or "the way it is"... that's Embezzlement! Now, had they honestly prototyped and tested and contacted and traveled and negotiated, and it still flopped, by all means, they EARNED their fees honorably and the inventor should have no complaint.
I know my money is gone, and I also know the company has become wealthy doing like deals with inventors, but the whole point is that there should be career/business changing legal ramifications when things like this happen.
Re: InventHelp.com Scam article
by Gizmo » Tue Nov 09, 2010 4:09 pm
- Gizmo
- Blue Belt
- Posts: 430
- Joined: Mon Jan 26, 2009 6:40 am
- Location: Florida
Frank whats the name of the company you were dealing with ??????
(this user has been banned)
Re: InventHelp.com Scam article
by Let-Them-Fly » Tue Nov 09, 2010 7:29 pm
-
Let-Them-Fly - Yellow Belt
- Posts: 54
- Joined: Thu Oct 21, 2010 9:29 pm
- Location: North Carolina
Giz,
Very ashamed and embarrassed to admit I was foolish enough to be taken in by such a blatant scammer. When I read about others being hit because a company/individual built up such grand expectations to gain the inventor's trust before slamming the door in their face, it strikes a raw nerve with me now!
It's exactly why I have the the notice at the end of my introduction...
Very ashamed and embarrassed to admit I was foolish enough to be taken in by such a blatant scammer. When I read about others being hit because a company/individual built up such grand expectations to gain the inventor's trust before slamming the door in their face, it strikes a raw nerve with me now!
It's exactly why I have the the notice at the end of my introduction...
Re: InventHelp.com Scam article
by Gizmo » Wed Nov 10, 2010 10:55 am
- Gizmo
- Blue Belt
- Posts: 430
- Joined: Mon Jan 26, 2009 6:40 am
- Location: Florida
Let-Them-Fly wrote:Giz,
Very ashamed and embarrassed to admit I was foolish enough to be taken in by such a blatant scammer. When I read about others being hit because a company/individual built up such grand expectations to gain the inventor's trust before slamming the door in their face, it strikes a raw nerve with me now!
It's exactly why I have the the notice at the end of my introduction...
Frank yesterday you posted that IP&R was the company that took you for a ride. Any reason you removed there name.
(this user has been banned)
Re: InventHelp.com Scam article
by Let-Them-Fly » Wed Nov 10, 2010 2:53 pm
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Let-Them-Fly - Yellow Belt
- Posts: 54
- Joined: Thu Oct 21, 2010 9:29 pm
- Location: North Carolina
Giz,
I wasn't sure if it was within this site's protocol so I removed it from public view and answered you via email. Also, I didn't want to invite the remnants of that company back into my inbox, but you published their name anyhow so it doesn't matter now.
If I send you a private message I would appreciate if you would keep it private, thanks.
I wasn't sure if it was within this site's protocol so I removed it from public view and answered you via email. Also, I didn't want to invite the remnants of that company back into my inbox, but you published their name anyhow so it doesn't matter now.
If I send you a private message I would appreciate if you would keep it private, thanks.
Re: InventHelp.com Scam article
by Gizmo » Wed Nov 10, 2010 3:10 pm
- Gizmo
- Blue Belt
- Posts: 430
- Joined: Mon Jan 26, 2009 6:40 am
- Location: Florida
Let-Them-Fly wrote:Giz,
I wasn't sure if it was within this site's protocol so I removed it from public view and answered you via email. Also, I didn't want to invite the remnants of that company back into my inbox, but you published their name anyhow so it doesn't matter now.
If I send you a private message I would appreciate if you would keep it private, thanks.
Frank once you posted the companys name yesterday I didnt think anything was private. I had Private Messages from a couple members that read it asking me if thats the same company that changed there name to AbsolutleyNew.
Theres nothing to be shamed about Frank,telling your story has the ability to warn others. If inventors choose to move forward on there own at least they were warned. Thats all we can do to help.
Re: InventHelp.com Scam article
by PennyB » Sun Nov 14, 2010 4:57 pm
- PennyB
- Green Belt
- Posts: 128
- Joined: Wed Jan 30, 2008 4:41 am
This post is disrelated to Inventhelp.
They (IP&R) didn't change their name they sold out to a VC who bought Absolutely New which was one of the many companies under IP&R - the rest of them went poof! However, the same CEO is still CEO and I've heard many of the staff are still staff. Whether or not they use the same business model and the same promo materials as well as the same contract and the rest of the baloney - I'd probably not waste a bet on - but that's me.
They (IP&R) didn't change their name they sold out to a VC who bought Absolutely New which was one of the many companies under IP&R - the rest of them went poof! However, the same CEO is still CEO and I've heard many of the staff are still staff. Whether or not they use the same business model and the same promo materials as well as the same contract and the rest of the baloney - I'd probably not waste a bet on - but that's me.
Re: InventHelp.com Scam article
by Roger Brown » Sun Dec 12, 2010 11:17 am
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Roger Brown - Black Belt
- Posts: 1208
- Joined: Mon Oct 30, 2006 2:53 pm
- Location: USA
This why I tell Inventors in my opinion that no matter which Invention Submission Company they plan on using they need to take a hard look at is it really necessary to use them in the first place when they can do a lot of the same work themselves for pennies on the dollar.
I have 7 products licensed and on the market, with two more coming out in early 2011 and spent less than $100 on each. It is hard to find any of these companies that will do just an evaluation for that price.
If you have considered every other alternative and they are your LAST choice make sure you ask "How many Inventors have made more in royalties than paid them for their services?" In my opinion I believe you will be surprised at how low that number is. If they try and dodge giving you the answer or start with the hard sales pitch, that should be a sign you need to go somewhere else. Because they know you won't like the answer.
I would strongly encourage you to read this article on Invention Submission Companies before you make any decisions http://inventorspot.com/articles/why_in ... pani_10378
I have 7 products licensed and on the market, with two more coming out in early 2011 and spent less than $100 on each. It is hard to find any of these companies that will do just an evaluation for that price.
If you have considered every other alternative and they are your LAST choice make sure you ask "How many Inventors have made more in royalties than paid them for their services?" In my opinion I believe you will be surprised at how low that number is. If they try and dodge giving you the answer or start with the hard sales pitch, that should be a sign you need to go somewhere else. Because they know you won't like the answer.
I would strongly encourage you to read this article on Invention Submission Companies before you make any decisions http://inventorspot.com/articles/why_in ... pani_10378
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.
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