Secrets of Invention Marketing Firms

Hello I’m Tim Maier. I would like to speak to you for a minute about why you need to stay away from invention marketing firms early in the patent process.

Invention marking firms tend to prey on individuals that are unsophisticated, don’t have large financial resource backing, small budgets that kind of thing. We get calls all the time from vendors that have been fleeced by invention marketing firms. They submit their idea, they sign a contract. They submit anywhere from $7,000 to $15,000. The marking firm produces some glossy brochures that show market research. They provide contacts or manufacturers but they really don’t provide any substantive information or they’re not really looking to protect the interest of the individual that go to them. They take a very few ideas out of many many thousands maybe 1% or ½% that may be successful. They get them through their own marketing staff and then they make the inventor sign a contract that is unconscionable, it’s unreasonable, most of the invention gets taken away from the individual. For these reasons we think that early in the patent process it is absolutely vital to hire a patent law firm that is looking out for your interest; that represents your best interest in filing a provisional application teaching you how patent law works and how licensing agreement works. So you’ll have the sophistication knowledge to move forward with the next step if you decide you need a marketing firm down the road. These are some of the reasons why it’s very important to stay away from invention marketing firms early in the patenting process.

I’m Tim Maier. Thanks for listening.