1) For every 100 patents issued, 5 of those products will actually go public. That’s just 5%. You can increase the percentage a bit by teaming up with a seasoned inventor who’s built solid connections with years of honest hard work, one who can begin making phone calls for you and target people they have business history with.
2) Income from your patent is just as scarce, only 1 in every 100 patents issued will generate income in the 7 figure range. (1 million or more) As an inventor, your odds are a little better to make 5 or 6 figures on your invention/innovation but the odds don’t go up much for those amounts either. Again, connecting with a seasoned inventor will increase those odds in your favor and in a niche market with a lot of competition, any advantage coming your way is huge.
3) This world has 7 billion people living on it, the odds of developing that magic invention or innovation that hasn’t been invented, protected, manufactured and failed or succeeded are pretty slim. Don’t ever jump into an agreement with an invention help company that’s going to cost you 10s of thousands of dollars for any reason, especially when you’re in the walking, not running phase of your journey into this complicated world. Once again, better to find an inventor who’ll take a realistic look at your innovation and give you an honest appraisal of it without costing you your life savings.
4) You don’t have to secure a patent prior to discussing your invention/innovation with companies but, you’ll need some protection, know what you need and when to have it in force. I’ve heard the horror stories of Provisional Apps, and Patent Work by people who are supposed to be helping you and fighting for you and not lining their pockets with your hard-earned money. I’ve been there, I’ve been taken for almost 10,000.00, I do know their games and the damages they cause to inventors and their families. And one more time, a seasoned inventor who’s fought in the trenches, had success, been issued and sold patents, licensed products and sold products with no IP Protection.
5) Lastly, the advantages of going to my website and just looking around are many. I’m an inventor like you. I have had better than industry percentages of success in this field. You’ll speak to me, not a call center person trained to get you involved with their company using slick well laid out pitches designed to separate you from your money. Think about it, if the percentages are so low for an inventor to make money, or have a product make it to the big box stores or other avenues of retail, then the companies that are doing all the advertising for products and inventors must be making money from somewhere right? I’m thinkin it is from the fees that they are paid for services that most never are recovered by the inventor they snare in their nets….. I’m an inventor, I’m one of you… I’ve been in your shoes, I don’t take on every product if it doesn’t make sense to do so. This week alone, I walked away from 3 products that just didn’t seem right to me.
- Posted by Randy Jack
- On December 29, 2017
- 0 Comments