Edison Nation / Inventor scam artists
There needs to be a law that prevents these type of companies whom pray on wishful and undereducated inventors whom take the bait form what I call vultures. The only people to make any money are these so called inventor help companies. They are all snake oil salesmen. They want your money to evaluate your idea??? That is the same scam as the chain letter. If 10, 000 people send in $25.00 they are just laughing at your ignorance right off the bat. Edison Nation is one of them. What is a big shame is that they were on PBS portraying themselves as heros for the inventors. PBS needs to do a story on these con-artists, as to what they really are about. They keep sending out E-mails with contests they are setting up through big companies. They tell you that they get better than industry standards in Royalties and are willing to split it with you. They fail to tell you that industry standards are 3%-5% and that is only if it is profit, you do not get one thin dime till your idea is in the black. Basically they just act as a go between with your money funding the whole project. They do nothing you could not do yourself. Think about it this way, Lets just sayyour Idea has just made $1, 000, 000 and that is profit...and your cut is 5% you just made the company that manufacturers the product $950, 000...Your cut of the whole thing is only $25, 000 because you just gave your other half to Edison Nation of $25, 000. You have already spent way more than that just getting patents and all the other vulture companies that prey on first or even second time inventors, mold makers, Patent lawyers, advertising, web pages..list goes on. Anytime you have to send people money to look at your ideas is the same as applying for a job and having to pay them for clerical work. You need to get with your local inventors group, each State has one, or just call the President of one near you and let him tell you the war stories of these Vultures. These local Inventors are just like you and I, they are not in it to scam you, it is like a fraternity where you can get practically all your information as to whom to avoid or give you contacts that may take you to the next level. There are inventors in the group that are at different levels and have fallen in the trappings of these heartless jerks. I honestly cannot see how these people can sleep at night knowing they are bleeding you dry by leading you on, knowing that as long as they keep you all lathered up about your invention you will keep pitching money at them till you have no more to give. You have drained your savings, put your house up, borrowed money from friends and family. Then when all your resources are dried up, they will not have a thing to do with you. If you look at all the ideas that have gone to market with this company Edison Nation or any company in the same rip-off business, for all the years they have been in business it is a joke!!.. They may get one hit here and there, but I guarantee you they have suckered hundreds of thousands out of their dreams. They do help me in one way..and they can help you as well..when they send you the information that there is a contest for a ceartain idea for a big name company..I just send the idea to the company after their so called contest is over. They are helping me by letting me know who is looking for ideas and it makes it better to send your invention to companies looking for ideas because 90% of most companies DO NOT take ideas from outside inventors, they tell you they have a department that does that for them and they do not want to deal with all the legalities of outside sources. I will thank them for that. Good luck with your venture, be safe, do all your own leg work and if you can do it yourself you turn the tables and get 90% of the profits for yourself, why would you want to sell you idea and make someone else rich? Always make your first step in Inventing towards Your States or cities Inventors organazations. You can get a Provisional Patent for a mere $110.00 which protects you for 1 year as a Patent Pending. This allows you to show your ideas to anybody and feel safe, to see if your product or idea is worth even going to market with and you do not waist 10's of thousands on the Vultures that pick your bones dry. Disclosure documents are a joke, any Lawyer can find a loophole in a contract. Just go to PTO.Gov and look up Provisional Patent, a fifth grader can do this one.