Tips to Avoid Invention Scams and Invention Fraud
All it takes is an idea and a plan. Then you do what you can to act out the plan until the idea has become a reality. But what do you do when all you have is an idea? Bringing this down a notch, I'm talking about inventions. Everybody's got at least one invention in them, some good idea that pops into the brain somewhere in life that would be not only of great use and benefit to mankind but also sell like hotcakes. But what next? Enter "invention assistance" companies who take inventions and come up with a plan to make them a success. Obviously there is money involved there, and a common stopping point for many great inventions is when the inventor considers just how badly they could get screwed over by some money-hungry corporate invention scam.
Here's some stuff you can look for to tell whether or not the company in question is running a legit invention marketing service or if they're running an invention scam.
Scams work by running ads on TV, Internet or radio that offer a free inventor's kit. They say they can help you turn your invention into a successful product, but they really exist to screw over new inventors.
Avoid being scammed. Prevent inventors from being scammed.
How to tell if an invention help service is a scam?
Scams will promise or strongly suggest that outrageous success is guaranteed for anyone who has an idea for an invention. The truth is that inventions have a low success rate, and sometimes they just don't work. Which makes your idea even more important to the whole process. Come up with a good idea before you worry about people scamming you.
Verify the company's experience
Inventors are protected by the law in that the law requires an invention company to readily provide inventors with a detailed explanation of its track record before a transaction can take place. Take advantage of this by asking detailed questions, or just simply asking for a detailed track record to be explained in terms you can understand before giving them any of money.
A legit invention company will probably have a modest or even a low rate of success in the past, due to the fact that most inventions do not succeed. And that is due to the fact that many people have "inventions" that are either impractical or impossible to implement in real life. So ask for their record and make sure it sucks. That's how you really know you've got a great invention company working for you.
Go to the FTC's website at ftc.gov and search for more information about a specific invention company before you give them your idea.