FAQ continued

What is your typical investment in an idea?

Because we work with all stages of inventions, our investments vary.  A typical investment can vary between $3,000-$15,000. We agree on a figure before we start getting your idea ready. A lot of times, the investment is less than the agreed upon figure. ALL costs are recorded.

What will this cost me?

There are no costs or fees. We make it easy for any inventor to take the “next step” for their great idea.

Explain how we would get paid after a royalty deal is struck.

(Hypothetical) Let’s say we invest $5,000 in your great idea. The XYZ Company offers a 4% royalty agreement for your great idea and they agree to give a $25,000 cash advance. After $5,000 (our initial investment) is deducted from the $25,000 cash advance, you could receive up to 80% on the $20,000 and on ALL royalties going forward. If there is NO cash advance, then the first $5,000 (our initial investment) of royalties earned will be paid to us and we share all royalties going forward.

Can a big corporation steal my idea after you present to them?

There are ways to protect your great idea and significantly reduce the chances of you getting ripped off. In this day of the Internet, bad publicity and the legal hassles aren’t worth stealing your idea. Companies ARE HAPPY to pay a royalty for an idea that generates revenues. We can’t guarantee a big corporation won’t try to steal your idea, but we will take all of the necessary steps to prevent it.

Can I really submit just an idea?

YES! We encourage it. No idea is too simple.

Do you own my great idea or patent?

No. You own your great idea and we act as your licensing agent for it.

Do I need a patent on my idea?

No. You don’t need a full patent to start determining if there’s a demand for your idea. From just an idea to a full prototype, we work with inventions at EVERY stage of development. Based on where you are with your idea, we will show you how to protect your idea while presenting it. We can get legal protection via the U.S. Patent and Trademark Office for a fraction of the full cost of a patent.  If we sign a royalty agreement for your idea, there’s a good chance we can get the licensee to pay for the full patent and assign it to you.

Other agencies charge up to $400 just to evaluate an idea, why do you do it for free?

Our firm is focused on the “big picture”. That means receiving royalty checks for years from a licensing agreement, not on one-time upfront fees. We are not in the business of stringing along an inventor with false hopes for some nominal upfront fees. Why should YOU have to pay for materials that WE will use to pursue a licensing agreement? There is no cost because we want to see as many great ideas as possible and we encourage multiple submissions. The fact is, if we determine your idea is great we WANT to invest in it.

 

Why licensing versus manufacturing? 

Whether it’s in the U.S or overseas, manufacturing requires A LOT of time and money. Even if your product is easy to manufacture, the startup costs just to make the FIRST unit can easily exceed over $100,000 and can take over a year to do so. If owning your own company and making widgets is your dream, by all means go for it. We’ve gone down that road and have learned that the risk reward is not in the inventor’s favor. The licensing model is one of the cheapest ways to earn big time wealth with minimal time and money invested.

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The Invention and Idea Licensing Agency
2800 S. Ocean Blvd Penthouse D
Boca Raton, FL 33432