Invention Marketing Firms Detroit MI

For many inventors, coming up with the “next great idea” is the easy part. Commercializing the invention is the challenge. So many inventors turn to invention marketing brokers to do the marketing for them. Each year, the patent office issues 200,000 patents. Of those, only 2% ever meet with any commercial success. So it would seem that using a purported expert in invention marketing to handle the promotion of one’s invention makes a lot of sense. And it can. But like in any industry, there are reputable firms, and less than reputable firms when it comes to invention marketing brokers. If you’re going to consider using one of an invention marketing firm, consider these points first:

1. Base your relationship on performance: Make sure that the invention marketing firm gets its compensation from the successful commercialization of the invention, and not from hefty fees charged to you up-front. If there is any up-front fee, make sure you clearly understand what you are getting for it. If little or no up-front fees are charged, then compensation from a successful license or sale is generally deemed acceptable in the range of 5% to 15%.
2. Compare the invention marketing firms accepted inventions to the total inventions submitted: A firm that accepts all or a majority of the inventions submitted to it is likely making money off the fees charged upfront and is not focused on making its fees from successfully marketing inventions.

Author: The Sloan Brothers

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