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Beware of Invention Scams - The Bison - 08-15-2016
https://www.uspto.gov/sites/default/files/web/offices/com/iip/documents/scamprevent.pdf
LITTLE RESEARCH CAN SAVE A
LOT OF MONEY, ASK QUESTIONS
Get answers to these questions in writing from any
promotion, marketing or licensing company wanting to
help you. Helpful hints are given in the brackets.
1.
Total number of inventions evaluated for commercial
potential in the past five years by the Company
. H
ow
many
of those evaluations were positive
,
accepted by
the Company
.
H
ow many were negative
,
rejected
by the Company.
2.
Total number of customers, known by the Company,
who have received a net financial profit as a direct result
of the Company’s promotion services
. W
hat is the
Company's
success rate over the past five years [that is,
the number of
who made more money from
their invention than they paid].
3.
Names and addresses of all previous invention
promotion companies with which the Company or its
officers have collectively or individually been affiliated in
the previous 10 years and what other names has the
Company used in this or other states.
4.
Total number of customers, known by the Company,
to
have received license agreements for their inventions
as a
direct result of the Company’s services. [lf the
success rate
is low, say less than 5%, then think
about going elsewhere].
5.
How many customers
have contracted with the Company
for
promotional services in the past 5 years; excluding
those
who have purchased trade show services research,
advertising or other non-marketing service: and
excluding those who have defaulted on payment to the
Company.
6.
Is there an up-front fee and, if so, how much is it and
what are you getting for it? How much will the complete
process cost from submission of my invention to
obtaining a patent and a licensing agreement?
[Reputable firms have relatively small, upfront or
other
fees because they make their real money from
successful
royalty arrangements for the inventions they
accept].
7.
Has the Company ever been investigated by or been in
trouble with the Federal Trade Commission, Better
Business Bureau, any
consumer protection agency or
Attorney General's Office and if
so, when and where?
8.
Who selects and pays for the patent attorney or agent
to do the patent search, patentability opinion and patent
application preparation? [You should be able to select
your own, because the attorney or agent represents you,
not the Company].
9.
Provide you with the names, addresses and phone
numbers of five clients of the Company in
you
r
geographical area and copies of all contracts and forms
to review [Do this before signing or paying any money].
10.
Does the Company provide a written opinion of the
"marketability" (that is, potential success) of your
invention?