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June 27, 2023
John Rizvi, Esq.

Inventors Beware: There is No “One-Stop Shop” That Can Take You from Invention Idea to Market

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00:00

One thing that's almost too good, you know what they say about something being too good to be true. It's very enticing for inventors to try to find a one-shop, a one-stop shop, meaning one company that can get them to patent, find them the licensee and prepare them the prototype, and do it all. It takes the burden off of the inventor. It makes—it seems to take the burden off of the inventor because they can go and put their trust in this one company to handle all the difficult parts of the invention process. Is there such a thing as a viable one stop shop that you've found?

00:42
Not a single one. And one of the things an inventor can do is look up under, you know, a simple Wikipedia search, “invention promotion company.” If they take money upfront, they are an invention promotion company. Their success rate is less than 0.1%. Because they made their money on you, the inventor, they don't need to get it to market, because they charge you upfront. If anybody's charging you that way, all right—you know, there are service providers, all right, attorneys, accountants, engineers that are gonna say this is what it's going to be, this is the, you know, the ballpark, you know, you have variations in there. But you know, you know what it's gonna be, I can't promise a licensing deal any better than one of the invention promotion companies. I don't charge upfront. Alright? I can't promise a deal. I get paid when the inventor gets paid. All right? They don't do that. So if you're dealing with someone that says, “Oh, we can, you know, get your patent…” I cannot tell you how many times I have seen a really bad idea that an inventor paid $10,000 for, and all they have is patent pending status and virtual drawings. I can't license that to anybody. And a legitimate licensee, they know. When they say, “Who is your registered patent attorney?” If they recognize any of those names, the conversation is over.

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