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First of its kind gateway for connecting inventors worldwide with North American companies seeking innovative products and inventions

 

Monroeville, PA July 20, 2010 – InventionHome today introduced the North American Product Innovation Network SM, a first of its kind gateway for providing inventors easy access to North American companies seeking innovative products and inventions available for wholesale, license or acquisition.  North American Product Innovation NetworkSM also provides companies across North America with a centralized source for finding innovative products within the United States and beyond.

“Our goal is to create a single point of entry, or gateway, into every North American company interested in product innovation” said Russell Williams, President of InventionHome. “We have created the network and system for sharing and submitting new products and inventions with companies in a more efficient and effective way than ever before.”

North American Product Innovation NetworkSM consists of thousands of companies seeking innovative products available for wholesale, license or acquisition as well as the system for submitting innovative products and inventions to those companies.  These companies include manufacturers, distributors, DRTV / infomercial companies and retailers that have registered with InventionHome or its affiliate MatchProduct.com to receive new invention opportunities.  The system for submitting and sharing innovative products and inventions includes targeted product alerts, online search functionality, and/or an electronic submission management system for automating the overall submission process for companies.

North American Product Innovation NetworkSM also consists of an indirect “partner network” for sharing new inventions with companies that are not directly registered with InventionHome or its affiliate MatchProduct.com.  This partner network consists of a growing list of prominent product associations and tradeshows who will be utilizing an integrated search portal on their websites to enable site visitors to search the InventionHome and MatchProduct.com databases for non-confidential invention opportunities.  These organizations currently include the National Hardware Show (produced by Reed Exhibitions), International Housewares Association (IHA), National Retail Hardware Association (NRHA) and Response Magazine / Direct Response Manufacturers Association (DRMA).  The search portal enables these organizations to offer their members quick and easy access to new products and inventions directly from their websites, thus enhancing their member benefits while expanding the network reach to thousands of additional companies using their websites. 

 

Pricing & Availability

For companies seeking innovative products, the North American Product Innovation NetworkSM is FREE.  To learn more, email member@inventionhome.com

For inventors seeking companies to wholesale, license or acquire their inventions, the North American Product Innovation Network SM offers various submission / marketing program options through affiliates InventionHome and MatchProduct.com, depending on the development status of the particular product / invention.

Inventors with fully-developed, manufactured products may select the free listing option on www.MatchProduct.com, which provides a listing on MatchProduct.com and “partner network” sites.  These inventors may also select a proactive submission / marketing program option that expands the program to an outbound, proactive approach for a modest fee.  The program fee structure is $39 per month / $139 setup / royalty share / cancel at any time.

Inventors with inventions that are not fully-developed may also utilize the proactive submission / marketing program to pursue licensing / royalty opportunities.  The program fee structure is $599 setup / $14.99 per month / royalty share / cancel at any time.  The program setup fee also includes the creation of a sales and invention portfolio webpage, product due diligence management and contract negotiation management.  Patent, design and virtual prototype services are sold separately.  The free listing option on MatchProduct.com is not available for inventions that are not fully-developed and manufactured.  To request additional inventor information, call 1-866-844-6512 or email info@inventionhome.com.

InventionHome and MatchProduct.com are divisions of Jacob Enterprises, Inc. headquartered in Monroeville, Pennsylvania.  Since its inception in 2002, Jacob Enterprises has been a product innovation resource for manufacturers, wholesalers, retailers and other companies seeking to add or expand products (or lines) through product distribution, acquisition and licensing.  For information call 866-844-6512 or visit www.inventionhome.com.  Additional information is available at www.inventionhome.wordpress.com, www.twitter.com/inventionhome and www.inventionhome.blogspot.com.

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Invention service provider InventionHome.com sponsors inventor venues at two major industry tradeshows.

Monroeville, PA. June 29, 2010 – InventionHome is pleased to recap our recent tradeshow adventures.  In early May, we sponsored the “Inventors Spotlight” area of the National Hardware Show at the Las Vegas Convention Center.  InventionHome president, Russell Williams, served as a judge/panelist along with other esteemed invention-industry experts.  Nearly 80 inventors participated in the pavilion, and found immeasurable value in both the educational speaker series and the show traffic which included representatives from Black & Decker, Ace Hardware, Home Depot and thousands of other hardware manufacturers and retailers.

Also in May, we sponsored the “Inventors Pavilion” at the Response Expo which was held at the Hilton San Diego Bayfront.  This tradeshow spotlighted Direct Response TV companies, products and vendors.  In addition to exhibiting in the Pavilion, Inventors were given the opportunity to attend seminars from industry experts and pitch their product in person to BJ Global Direct. 

Both tradeshows provided excellent opportunities for InventionHome representatives to reconnect with familiar companies and bring many new companies onboard with our streamlined HotLinksTM system for sharing unique product ideas available for license.   

To get started with your invention, call – 1-866-844-6512

NATIONAL HARDWARE SHOW & RESPONSE EXPO 2010

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For more information about the tradeshows:

National Hardware Show:  http://www.nationalhardwareshow.com/

Response Expo:  http://www.responsemagazine.com/response-expo/home-page

We have additional tradeshows scheduled for fall and winter 2010 and will provide further info as it becomes available.

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Believe it or not, it’s not as hard as you may think to land a royalty deal on a product invention…provided you have a truly unique and innovative idea to start with and you have some important steps completed before approaching companies.  In addition, you need go into the process realizing that finding a good company to invest and believe in your idea can take time.  Royalty deals do not happen over night. 

 

 

To begin, let me step back and explain what I mean by “royalty deal”, which is more commonly referred to as a Licensing Agreement.

If you aspire to earn royalties from your invention, then the typical arrangement would be to secure a License Agreement with an interested company. A License Agreement is the legal document between an inventor [licensor] and a third party [licensee] which defines specific terms by which the licensee can commercially use the licensor’s invention. Among other things, the Agreement will define a time period, royalty rate, payment schedule, cash advance, minimum annual payments, etc. As a result of the Agreement, the inventor may receive an ongoing payment calculated as a percentage of sales (called a “royalty”), or a one-time lump-sum payment.

” Inventors do NOT need to mortgage their homes to pursue an invention.  All you need is a patent application filed and a prototype/design to pursue a royalty deal.”

 

Another option would be for an inventor to assign his rights, which is essentially the process of transferring or selling ownership in the invention/patent. The inventor may receive a lump sum payment or a series of payments. The difference between a “license” and “assignment” is in the transfer of rights. With a license, the inventor retains rights, like “renting” the patent, and with an assignment they transfer their rights (i.e., sell it).

In addition to having a good idea there are other considerations when preparing your invention for license, such as intellectual property protection (i.e.: patent, trademark or copyright), development and presentation.

It is important to understand that manufacturing your idea is NOT a requirement to license your invention for royalties. Many inventors believe that they need to setup manufacturing to pursue their inventions, which is not true. If your goal is to license your invention for royalties, I would not advise going down the path of setting up manufacturing capabilities. Assuming you have a good invention to start, you can approach companies about licensing your invention with a patent application filed, a prototype or design in place and a reasonably good presentation on why they should license your invention.

In summary, it is very possible to license a good invention for royalties. My company, InventionHome has completed over 100 marketing/license agreements and we’re seeing tremendous interest in new and innovative products.

 

For more information call – 1-866-844-6512

 

 

 

 

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When considering the two types of patent applications, don’t think of them as a choice between two, independent types of patents, like choosing between whether to order coffee or tea with dessert.  

For help with your patent, call 1-866-844-6512.

 

Idea, invention, innovation and patents are all commonly utilized terms in the rapidly expanding world of inventing. In the past few years, the process of inventing and the prospect of creating new and innovative products have become more popular than ever, with people from all walks of life striving for the next big idea or product improvement. Even popular media has embraced the idea of the inventor and his or her invention, which is illustrated by the creation of TV programs including Shark Tank, American Inventor, and Fore Inventors Only.  Daytime talk show host Ellen DeGeneres is known for her love of kid-inventors, and even Oprah Winfrey implemented an invention contest.  For many inventors the initial excitement of a new invention idea is inevitably followed by the concern or question of “how to protect the idea.”  After the light bulb goes on, it is important to figure out how to best protect the idea, but it is at this stage where one of several inventor dilemmas first occurs.  After researching the invention, conducting a prior art search and discussing patent options, it is common for inventors to ask the question: Which type of patent should I file, provisional or non-provisional?

What’s interesting about this question is that the answer will often vary depending upon whom you ask.  Over the years, I have heard a wide variety of opinions from business professionals, inventors and patent attorneys. While some believe that an inventor is better off moving directly into filing a non-provisional patent application, because it is typically more detailed and exhaustive in capturing the embodiment of the invention, others believe that starting with the provisional application is a better way to go, due to the expense and unknown marketing factors that can be associated with the non-provisional patent.

Just as the invention itself is unique, so is the answer to this patenting question.  While the decision should be based on individual circumstance and personal preference, it should be made with a clear understanding of the options. The correct choice depends on what works best for the inventor’s particular situation, taking into account financial condition, stage of development, risk tolerance or marketing progress. And, whenever possible, options should be discussed with a registered patent attorney

“Looking back on the process, I knew that I wanted to file a utility patent right away, but when the time came, I filed a provisional patent because it was much cheaper and I wanted to delay the expense of the utility patent until I was a little surer of the idea.  If cost wasn’t an issue, I probably would have filed the utility right away,” explained inventor Lisa Shaefer.

To begin to understand the answer to this question, one must first look at the question itself, which is somewhat of a misconception.  The question “which type of patent should I file:  provisional or non-provisional?” seems to imply a belief that each is an independent patent option where one or the other application would be filed.  However, in reality, this is not the way the applications work.

When considering the two types of patent applications, don’t think of them as a choice between two, independent types of patents, like choosing between whether to order coffee or tea with dessert.  The provisional patent application is not a substitute for filing a non-provisional patent application.  It’s important to understand that even if you file a provisional patent application, you will still need to file a non-provisional application down the road to receive patent protection. Think of the provisional patent application as a possible step in the patent process, but not the final step.

To figure out which direction is right for you, it is important to examine the differences between the provisional and non-provisional patent applications.  The non-provisional patent is commonly known as a “utility” patent application.  Filing this application establishes the filing date and begins the United States Patent and Trademark Office (USPTO)’s patent review process, which can take 18 months or more to complete. Alternately, the provisional patent application establishes the filing date but does not start the USPTO review process.  The provisional patent application provides a measure of protection for 12 months from the filing date and expires unless you file a utility patent application before the 12 months are up.  A good way to think of this is that the provisional reserves the filing date for you and allows you to claim the original provisional filing date when you file a utility patent application. But, be aware that the provisional patent application does not apply to a design patent, which means you would not file a provisional patent application if you were planning on filing a design patent for your invention.

The reason that so many inventors use the provisional patent application process is that it is significantly less expensive and complicated than the utility application. It allows the inventor to use the term “patent pending” while further developing or marketing their invention.  For example, if your invention changes through your own development efforts or must be changed for manufacturing reasons, these changes can be incorporated into the final utility patent application when ready to be filed.  In general, applications cannot be changed after filing.  In addition, the one-year time frame can provide the time needed to market the invention to companies and to get a feel for the true market demand for the invention.  It’s not unheard of for an inventor to decide not to file a utility patent application after they market their invention if they receive feedback that convinces them that their idea is not as good as they originally thought.

Another possible advantage of filing the provisional patent would be if you could succeed in finding a good product company or manufacturer during the 12-month period to license your invention and agree to pay up-front money to cover the costs of filing the non-provisional patent application.

For some, such as inventor Scott Carlson, the provisional patent application has become the way to go.

“I have been developing products for 7 years,” Carlson said, “And now that I have filed 8 patents, I always go with the provisional because it’s less expensive and it gives me a year to explore market avenues in order to see if the product has any merit.”

For others further down the road in the process—those whose inventions are further developed or those whose market research yielded positive response—the route of a utility patent may be a more viable option. 

After choosing the patenting option that best fits their circumstances, many inventors wonder whether it’s a good idea to file their own patent application rather than hiring a professional. The answer to this question depends on which application is being filed.  The provisional application process is not as complicated as the non-provisional application; therefore, inventors may be able to file a reasonably good application if they take the time to adequately research and understand the process.  However, don’t assume that just because the provisional patent application is less expensive and complicated that the importance of the quality of the application content is also decreased. It is essential to take the time to thoroughly and accurately complete the application as it applies to your invention.

When it comes to the non-provisional patent application, it is probably not wise to file your own application. Although there are many good books on the topic, the entire process is not as easy as it seems, and even with a good patent filing book as your guide, more than likely you will struggle to capture the optimal language in the claims section of the application, which defines the overall quality of your patent.  Therefore, it is probably in your best interest to rely on the expertise and experience of a registered patent attorney.  A good patent attorney should understand how to accurately capture your invention through the claims section of the application and produce a much stronger patent for you in the long run.

Whichever direction you ultimately decide, remember that research and self-education are invaluable to your success not only at this beginning stage, but also as you progress in the process of inventing.

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InventionHome is excited to sponsor the Inventors Pavilion at Response Expo 2010, along with the United Inventors Association and Inventors Digest Magazine.

The Inventors Pavilion at Response Expo 2010, with expected attendance of more than 2,500, will provide exhibitors with the unique opportunity to get in front of the top direct response (infomercial) companies, needed to manufacture, license and market their products.  Exhibitors are invited to showcase their products on the show floor and participate in exclusive events such as the “Learn, Pitch & Win Pitch-Off,” The Best Product/Service Award program, an invitation to attend the Inventor/Entrepreneur educational track and much more.   InventionHome President, Russell Williams, will be a Best Product judge, along with representatives from The United Inventors Association, Inventors Digest and Brainchild Marketing.

Don’t miss the opportunity to be seen, learn, and network at Response Expo 2010, the premier direct response marketing trade show.    To exhibit and showcase your product or idea to the infomercial industry, please contact Lori Posey (loriposey@brainchildmarketing.biz) or Jenny Lawlor (jenlawlor@brainchildmarketing.biz).

Who should exhibit?  Your product may be right for TV if it meets the criteria below:

  • Mass Appeal
  • Large Markup (Over 3 to 1)
  • Demonstrable Product
  • High Perceived Value vs. Price
  • Solves Immediate Problem
  • Improves Quality of Life (saves money)
  • Retail Potential

When / Where: May 11-13 / Hilton San Diego Bayfront.  Limited exhibit spaces are available

How to register: please contact Lori Posey loriposey@brainchildmarketing.biz  or Jenny Lawlor jenlawlor@brainchildmarketing.biz). 

The inventors pavilion exhibitor package includes:

  • 5×5 booth space
  • One identification sign
  • One 3’ draped table
  • One stool
  • Breakfast with the Inventors on the show floor, Thursday, May 13 from 9 – 10 a.m.
  • Participation in the BJ Global Learn, Pitch & Win “pitch-off” Wednesday, May 12, 9 – 10 a.m.
  • Participation in the Best Product/Service Award Program (judges include representatives from the top Inventor resources: Inventors Digest, United Inventors Association, Brainchild Marketing and Invention Home)
  • Invitation to attend the exclusive Inventor/Entrepreneur educational track
  • One All-Access Badge (valued at $695) which includes access to:  
  • All three networking events (Opening Night Party, Bayfront Celebration, Closing Night Party at Sea World)
  • Panel Discussions and Case Studies
  • Bob Geldof’s Keynote Address
  • Unlimited entry to the show floor

 

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InventionHome is excited to announce a partnership with the Direct Response Marketing Alliance (DRMA), the infomercial industry’s premier professional association, and Response Magazine, the definitive publication in direct response marketing, reaching more than 21,500 decision-makers in direct response marketing every month.

Response Magazine also hosts the Response Expo, the industry’s foremost direct response marketing trade show and conference. (Inventor booths are available.)

This partnership will broaden exposure for InventionHome’s new products and inventions to Direct Response Marketers seeking new products to sell on TV. Through the DRMA, Response Magazine, and the Response Expo, InventionHome’s clients will have even more opportunities to have their products seen by the top names in the direct response industry.

DRMA members include such infomercial giants as Allstar Marketing Group, Northern Response, and Tristar, who are responsible for the Snuggie, Ab Circle, and Jack LaLaine’s Power Juicer, respectively.
Response Magazine reaches more than 21,500 decision-makers in direct response marketing every month.
The annual Response Expo in San Diego brings together the biggest names involved in a direct response marketing campaign to network and make deals.

Response Magazine will also host InventionHome’s Innovation Search Portal directly on the Response Magazine website, which will enable direct response professionals visiting their website to search InventionHome’s portfolio of inventions and innovative products available for wholesale, license or acquisition.

Need help with your invention?  Click to Request Free Info Kit  or call 866-844-6512

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Are you an inventor with an awesome product or entrepreneur with a stellar business idea?  If so, Mark Burnett Productions, creator of smash television hits, “Survivor” and “The Apprentice” would love to hear from you.

The new show called “Shark Tank”, scheduled to air this fall on ABC, is a primetime opportunity for you to pitch your idea/product to a panel of five, tough judges and millions of television viewers.   By the way, the show isn’t called “Shark Tank” because the producers weren’t able to come up with a better name.   Applicants chosen as contestants must convince a panel of five savvy sharks to invest in their product/idea versus the others.

I’m sure a number of you are up for the challenge.   If you’re interested in becoming a contestant or learning more about “Shark Tank”, visit http://www.enterthesharktank.com/

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