The Times Union has posted a story on the hundreds of millions of dollars inventors lose to invention promotion companies every year. Individual inventors can lose tens of thousands of dollars to an invention promotion scheme. Lured by low initial cost and the potential of high rewards, inventors find out too late that the invention promotion company was in it for the nickels and dimes the whole time, and never had any plan to make the invention a success. How do you avoid such hucksters? Ask yourself these questions:
Is the company in a state like Iowa that strongly regulates these organizations?
What percentage of the clients working with this company make more than they paid in?
Will you be working with a registered patent attorney?
Be sure to get the answers in writing. If the answers are not satisfactory, you may be well advised to hire a patent attorney and do the promotion on your own.
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