Let The Inventor Beware

Your million -- dollar idea is vulnerable to deceptive invention promoters. We'll show you how to avoid the scams.

to ask promoters about their work history. Before a promoter can enter into a contract with you, a rep must disclose the following information about the firm’s business practices during the past five years:

How many inventions the firm has evaluated
How many of those inventions received positive or negative evaluations
Its total number of customers
How many of those customers received a net profit from the promoter’s services
How many of those customers have licensed their inventions due to the promoter’s services

Always check a company’s references by asking for names of clients. Be suspicious if they give you only a few names; these individuals might have been hired to give favorable testimonials. Call the USPTO, the Better Business Bureau, and the Attorney General in your state and in the state in which the company is based to inquire about complaints.

Helpful Government Agencies and Non — Profit Organizations:
Chicago 1st Black Inventors/Entrepreneurs Organization, www.cfbieo.org, 708 — 201 — 8092
Federal Trade Commission, www.ftc.gov, 877 — 382 — 4357
National Congress of Inventor Organizations, www.inventionconvention.com/ncio, 877 — 807 — 4074
The Pitch Coach, www.thepitchcoach.com, 313 — 320 — 2989
United Inventors Association, www.uiausa.org, 585 — 359 — 9310
U.S. Patent and Trademark Office, www.uspto.gov, 800 — 786 — 9199

Pages: 1 2 3 4
ACROSS THE WEB
  • Nadine W

    This article gave me a great start. Thank you.

  • June Blaircastillo

    Thank you for this article. I first read it in 2007 (in my subscription). Now that I have an idea, I couldn’t remember which issue the article was in. I’m glad I found it on the internet. This article is very informative as I wouldn’t know where to start.

    Thank you!!!!

  • blackwebseries@gmail.com

    A comprehensive Article that I’ll share with our network @ http://www.facebook.com/blackwebseries