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One such firm, Davison Associates, disclosed that of 900 ideas where a client had a prototype built of their invention at an average cost of $11,000, only 30 of those inventions were licensed within 6 months. Of the inventions licensed, only 10 made more in license fees than the cost of the invention promotion services. [4]
In January 2017, an undercover FTC investigator contacted the firm with his idea for an invention, a recipe. As usual, a salesperson responded he "had a great idea with lasting power" and "should expect a revenue stream for decades" even though recipes are almost impossible to patent. [20] The company was shut down by the FTC in March 2017.
Each year through the past decade, at least half a million patent applications come into the U.S. Patent and Trademark Office. Some of the applications are from firms equipped with financial ...
The good news is that InventHelp takes its responsibilities very seriously, and this includes the need to protect information and data relating to new invention ideas. So, all of the companies on ...
Patent monetization refers to the generation of revenue or the attempt to generate revenue by a person or company by selling or licensing the patents it owns.. Some of these owners try to make money from patents on inventions they develop, manufacture or market.
In 2006, Davison Design & Development were ordered to pay $26 million in consumer redress. [11] Davison Design & Development appealed, and ultimately settled, with the FTC in 2008, agreeing to pay $10.7 million in cash, real estate and investment assets. [12]
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