invention startup and licensing

Hello,
 
I`m still in the process of trying to get my business off the ground and am getting info overload from every side.  Has anyone had any experience with a startup company called Invention Home?  They claim to help get your product licensed with a manufaturer within a year in exchange for royalties on your sales.  Much appreciate all of your feedback!
 
Theresa B

Comments

  • patentandtrademarkpatentandtrademark Posts: 104subscriber
    i personally am suspicious of this entire industry - too many bad stories out there.  talk to a local patent atty.
  • tjbeaulieutjbeaulieu Posts: 9subscriber
    Thanks so much--very good to know.  I live in a very small town in northern Maine.  Where would I go for a good patent attorney?  Again, many thanks.
  • lizzie00lizzie00 Posts: 1subscriber
    tbeaulieu!
    this is so funny that you ask about Invention Home!...i am working on a licensing deal with a company i was matched up with through them.....i have had a great experience so far....but a little about me...i started my own business www.CinchEaze.com, developed the invention and brought it to market, and then realized that i wanted to go bigger, and i lacked the funds....and frankly, i can do, but seriously dislike the "operations side" of running a business....so my thought process was along the lines of "contract out" what i don`t like to do, and focus on what i love doing, sales, marketing and pr......and for me, licensing made sense financially.....yes, you can go find companies yourself, like i did, i have two companies i found on my own, and now i am trying to figure out which company to go with for a licensing deal.....i liked using Invention Home because i was not tied into a contract.....and i would never go with a company who ties you into a contract that you can not approach companies on your own...and just to let you know, i am a very skeptical person, and was hesitant about using any invention company, so i did my homework on BBB, asked for references, and asked some experts in the community....and you should do this when looking for an invention company.....
  • grabitpackgrabitpack Posts: 5subscriber
    Go by the saying, "if it`s too good to be true...it probably isn`t"  I`ve been in the film business for 20 years the story is the same everywhere.  Business managers and agents watched my back in my younger days.
    You can find a manufacturer yourself.  A lawyer is not going to do that for you.  There are many companies that would love to make your product (whatever it is), it`s how THEY make money.
    If you NEED a patent, legalzoom is a great option.
    Don`t go throwing money at lawyers at the drop of a dime.  There are a lot of resources on this site.  Take your time and be thorough.
  • lizzie00lizzie00 Posts: 1subscriber
    yes,  i agree with louis....most lawyers will not help you with any other aspect of your business except either setting up your legal entity for your business, or write up a patent....but aside from that, most stay away from getting involved in any other aspect of your business unless they have a subspecialty.....one of the women in my local parent innovators group found a great lawyer who indeed has some business experience outside what he does as a lawyer, but these types of lawyers are in the minority......i agree with louis....you can find your own manufacturer, but it takes time....and some inventors are lucky from the get-go and find a great match, and for some people it can take years for many reasons.......and another thing, you are your best salesperson, and really no one can convey the same enthusiasm about your product as you do.......invention home was a great option for me, to be able to get matched up with manufacturers really quickly, saving me time....i have other projects that i am working on, and do not have the time to dedicate to searches.....and i am ok with % paid out to them....it`s their business, and they are providing a service.....this is the way it is done in any other industry.......however, i was still able to find 2 other companies on my own.....so i have the best of both worlds.......
  • kathleenfasanellakathleenfasanella Posts: 0subscriber
    tried to delete this but I can`t.kathleenfasanella7/8/2008 1:27 PM
  • lizzie00lizzie00 Posts: 1subscriber
    beuautifulpetunia....i am currently using Invention Home and have not had a problem yet....i highly recommend doing your homework....and homework i did...checked out BBB, checked out USPTO complaint site, checked out their references, and contacted some big gurus in the inventing world on their opinions.....i had a manufacturer interested in my product in 2 weeks....i am in negotiations now....the only other company i highly reccomend is Edison Nation....what i like about these 2 companies is that they don`t give you their opinions or `review` your product....all they do is help you get your product in front of a manufacturer....and it might take more than a couple of weeks, but you are free to contact your own leads as well....if anyone has any questions about them, please feel free to contact me at 916-320-7403...eva
  • lizzie00lizzie00 Posts: 1subscriber
    yes, i had to believe that in the dozens of `scam` invention companies, there really had to be at least a couple that really did do something.....but this  is the case in any industry....there are scam insurance companies, scam mortgage companies, scam healthcare insurance....you name it...you need to be your own advocate in getting your product licensed....all companies are in the business of making money--even non-profits....you just have to be a smart consumer....feel free to give me a call with whatever questions you have...and i will update this when and if i sign a deal with them...
  • RetiredMember5RetiredMember5 Posts: 0subscriber
    I know that you are in information overload.  However, you should really check out our FREE entrepreneur guide that will answer a lot of the questions that you have.   It is recommended by over a dozen government agencies.   Check it out.
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